3,250 Shares in Eagle Point Credit Company Inc. (NYSE:ECC) Acquired by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,250 shares of the investment management company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit during the third quarter worth $39,000. McIlrath & Eck LLC acquired a new stake in Eagle Point Credit in the 3rd quarter worth about $57,000. Stephens Inc. AR acquired a new stake in Eagle Point Credit in the 3rd quarter worth about $99,000. Kingswood Wealth Advisors LLC acquired a new stake in Eagle Point Credit in the 4th quarter worth about $98,000. Finally, Stifel Financial Corp acquired a new stake in shares of Eagle Point Credit in the third quarter valued at approximately $149,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Stock Down 0.4 %

ECC stock opened at $8.71 on Wednesday. The business has a 50-day simple moving average of $8.83 and a 200 day simple moving average of $9.34. The company has a market cap of $669.83 million, a PE ratio of 10.36 and a beta of 0.75. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a 52 week low of $8.56 and a 52 week high of $10.49.

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

Eagle Point Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 19.30%. Eagle Point Credit’s payout ratio is presently 200.00%.

Analyst Ratings Changes

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

Eagle Point Credit 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.