Wedbush Securities Inc. grew its holdings in EAGLE POINT CR/COM (NYSE:ECC) by 47.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,215 shares of the investment management company’s stock after purchasing an additional 20,607 shares during the period. Wedbush Securities Inc. owned approximately 0.27% of EAGLE POINT CR/COM worth $1,149,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Mycio Wealth Partners LLC increased its stake in shares of EAGLE POINT CR/COM by 4.2% in the 1st quarter. Mycio Wealth Partners LLC now owns 1,115,115 shares of the investment management company’s stock valued at $18,556,000 after purchasing an additional 45,391 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of EAGLE POINT CR/COM by 110.2% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 136,268 shares of the investment management company’s stock valued at $2,267,000 after purchasing an additional 71,450 shares during the last quarter. Wiley BROS. Aintree Capital LLC bought a new position in shares of EAGLE POINT CR/COM in the 2nd quarter valued at $686,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of EAGLE POINT CR/COM by 13.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,136 shares of the investment management company’s stock valued at $452,000 after purchasing an additional 3,189 shares during the last quarter. Finally, NEXT Financial Group Inc increased its stake in shares of EAGLE POINT CR/COM by 954.2% in the 2nd quarter. NEXT Financial Group Inc now owns 25,300 shares of the investment management company’s stock valued at $453,000 after purchasing an additional 22,900 shares during the last quarter. Institutional investors own 35.48% of the company’s stock.
Separately, National Securities reiterated a “buy” rating and issued a $24.00 price target on shares of EAGLE POINT CR/COM in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. EAGLE POINT CR/COM presently has an average rating of “Hold” and a consensus price target of $24.00.
ECC stock traded down $0.56 during midday trading on Wednesday, reaching $16.70. 149,937 shares of the stock were exchanged, compared to its average volume of 179,173. The company has a market cap of $406.02 million, a PE ratio of 10.50 and a beta of 0.56. EAGLE POINT CR/COM has a 52 week low of $12.16 and a 52 week high of $19.41. The firm has a fifty day moving average of $17.85.
EAGLE POINT CR/COM (NYSE:ECC) last issued its quarterly earnings data on Wednesday, May 22nd. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The company had revenue of $16.59 million during the quarter, compared to analyst estimates of $17.80 million. As a group, analysts anticipate that EAGLE POINT CR/COM will post 1.54 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 9th. EAGLE POINT CR/COM’s dividend payout ratio is currently 163.52%.
EAGLE POINT CR/COM 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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