Freestone Capital Holdings LLC Has $1.97 Million Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Freestone Capital Holdings LLC lifted its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 26.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,083 shares of the investment management company’s stock after buying an additional 46,006 shares during the period. Freestone Capital Holdings LLC’s holdings in Eagle Point Credit were worth $1,972,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Stephens Inc. AR bought a new stake in Eagle Point Credit during the third quarter valued at $99,000. Rockefeller Capital Management L.P. boosted its position in Eagle Point Credit by 2.8% during the third quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after acquiring an additional 2,112 shares during the last quarter. Stifel Financial Corp bought a new stake in Eagle Point Credit during the third quarter valued at $149,000. Legacy Investment Solutions LLC bought a new stake in Eagle Point Credit during the third quarter valued at $39,000. Finally, McIlrath & Eck LLC bought a new position in shares of Eagle Point Credit during the 3rd quarter worth about $57,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

ECC stock opened at $8.82 on Friday. The stock has a market capitalization of $678.30 million, a PE ratio of 10.49 and a beta of 0.75. The company’s 50-day moving average is $8.82 and its 200-day moving average is $9.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit Company Inc. has a 1 year low of $8.56 and a 1 year high of $10.49.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $49.55 million for the quarter, compared to analysts’ expectations of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. Equities research analysts expect that Eagle Point Credit Company Inc. will post 1.1 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 19.06%. The ex-dividend date is Tuesday, June 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 200.00%.

Analysts Set New Price Targets

Separately, B. Riley cut their price objective on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Eagle Point Credit Company Profile

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.