Worth Asset Management LLC Buys 51,367 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Worth Asset Management LLC increased its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 359.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,647 shares of the investment management company’s stock after acquiring an additional 51,367 shares during the period. Worth Asset Management LLC owned about 0.09% of Eagle Point Credit worth $647,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Freestone Capital Holdings LLC raised its holdings in Eagle Point Credit by 1.3% during the first quarter. Freestone Capital Holdings LLC now owns 90,287 shares of the investment management company’s stock worth $913,000 after acquiring an additional 1,188 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Eagle Point Credit by 1.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 97,734 shares of the investment management company’s stock valued at $988,000 after buying an additional 1,607 shares during the period. Essex Financial Services Inc. raised its stake in Eagle Point Credit by 8.6% in the second quarter. Essex Financial Services Inc. now owns 26,764 shares of the investment management company’s stock valued at $271,000 after buying an additional 2,127 shares during the period. Sage Capital Advisors llc raised its stake in Eagle Point Credit by 6.5% in the third quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock valued at $482,000 after buying an additional 2,986 shares during the period. Finally, NBC Securities Inc. bought a new stake in Eagle Point Credit in the first quarter valued at approximately $31,000. Institutional investors own 19.50% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price objective on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th.

Eagle Point Credit Price Performance

NYSE:ECC opened at $9.79 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $9.86 and its two-hundred day moving average price is $10.02. The firm has a market capitalization of $753.34 million, a price-to-earnings ratio of 5.80 and a beta of 0.76. Eagle Point Credit Company Inc. has a 12-month low of $8.60 and a 12-month high of $10.49.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings data on Tuesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $42.28 million during the quarter, compared to the consensus estimate of $45.67 million. Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. On average, analysts anticipate that Eagle Point Credit Company Inc. will post 1.11 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.16%. Eagle Point Credit’s dividend payout ratio (DPR) is currently 90.06%.

About Eagle Point Credit

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.