Freestone Capital Holdings LLC Takes Position in Eagle Point Income Company Inc. $EIC

Freestone Capital Holdings LLC acquired a new stake in shares of Eagle Point Income Company Inc. (NYSE:EIC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 61,968 shares of the company’s stock, valued at approximately $707,000.

Several other institutional investors also recently made changes to their positions in EIC. Penserra Capital Management LLC purchased a new stake in shares of Eagle Point Income during the 3rd quarter valued at $9,959,000. North Ground Capital purchased a new stake in shares of Eagle Point Income during the 3rd quarter worth about $5,683,000. Alpine Global Management LLC purchased a new stake in shares of Eagle Point Income during the 3rd quarter worth about $2,991,000. TrueMark Investments LLC purchased a new stake in shares of Eagle Point Income during the 4th quarter worth about $171,000. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in shares of Eagle Point Income during the 3rd quarter worth about $131,000.

Analyst Upgrades and Downgrades

EIC has been the subject of a number of research reports. B. Riley Financial decreased their target price on Eagle Point Income from $14.00 to $11.25 and set a “buy” rating for the company in a report on Monday, March 16th. Zacks Research cut Eagle Point Income from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eagle Point Income in a report on Friday, February 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Eagle Point Income presently has a consensus rating of “Hold” and a consensus target price of $11.25.

Eagle Point Income Stock Up 1.3%

Shares of Eagle Point Income stock opened at $9.81 on Thursday. The company has a fifty day moving average price of $9.76 and a 200 day moving average price of $11.05. Eagle Point Income Company Inc. has a twelve month low of $9.17 and a twelve month high of $14.80.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $14.70 million.

Eagle Point Income Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Wednesday, June 10th.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.