EAGLE POINT CR/COM (ECC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of EAGLE POINT CR/COM (NYSE:ECC) have earned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.00.

Several research analysts recently weighed in on ECC shares. CIBC reissued a “market perform” rating on shares of EAGLE POINT CR/COM in a research note on Thursday, November 15th. National Securities reissued a “buy” rating and set a $24.00 price target on shares of EAGLE POINT CR/COM in a research report on Thursday, November 15th. Finally, Oppenheimer lowered EAGLE POINT CR/COM from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 15th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECC. Centaurus Financial Inc. bought a new position in EAGLE POINT CR/COM in the 2nd quarter valued at $208,000. Penn Mutual Asset Management LLC bought a new stake in shares of EAGLE POINT CR/COM in the third quarter valued at about $1,315,000. National Asset Management Inc. raised its holdings in EAGLE POINT CR/COM by 438.7% during the third quarter. National Asset Management Inc. now owns 127,171 shares of the investment management company’s stock worth $2,277,000 after acquiring an additional 103,562 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in EAGLE POINT CR/COM by 386.0% during the third quarter. Commonwealth Equity Services LLC now owns 49,013 shares of the investment management company’s stock worth $877,000 after acquiring an additional 38,929 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in EAGLE POINT CR/COM during the second quarter worth approximately $484,000. 47.75% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ECC opened at $16.40 on Friday. EAGLE POINT CR/COM has a 1-year low of $16.07 and a 1-year high of $20.05. The firm has a market capitalization of $311.87 million, a P/E ratio of 8.72 and a beta of 0.25.

The company also recently announced a monthly dividend, which will be paid on Monday, December 31st. Shareholders of record on Thursday, December 13th will be given a $0.20 dividend. This represents a $2.40 annualized dividend and a yield of 14.63%. The ex-dividend date of this dividend is Wednesday, December 12th. EAGLE POINT CR/COM’s payout ratio is currently 127.66%.

EAGLE POINT CR/COM 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.

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