Eagle Point Credit Company Inc. (NYSE:ECC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.4583.

A number of equities research analysts have recently commented on ECC shares. Zacks Research upgraded shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Credit Suisse Group set a $7.00 target price on shares of Eagle Point Credit in a research note on Thursday, November 20th. Finally, B. Riley reduced their price target on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th.

Eagle Point Credit Trading Down 1.0%

ECC stock opened at $5.69 on Wednesday. The firm has a 50 day moving average of $5.85 and a 200-day moving average of $6.48. The company has a market cap of $718.19 million, a price-to-earnings ratio of 29.92 and a beta of 0.27. Eagle Point Credit has a 12-month low of $5.40 and a 12-month high of $8.96.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 29.6%. Eagle Point Credit’s dividend payout ratio is currently 884.21%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECC. GPS Wealth Strategies Group LLC purchased a new stake in shares of Eagle Point Credit in the second quarter worth about $25,000. IFP Advisors Inc acquired a new position in Eagle Point Credit during the 2nd quarter worth approximately $28,000. Geneos Wealth Management Inc. purchased a new position in Eagle Point Credit in the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Eagle Point Credit in the second quarter valued at approximately $35,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Eagle Point Credit during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.