Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Update

Eagle Point Credit Company Inc. (NYSE:ECC) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 236,400 shares, a drop of 11.0% from the March 15th total of 265,700 shares. Based on an average daily volume of 699,100 shares, the days-to-cover ratio is currently 0.3 days.

Eagle Point Credit Stock Down 1.0 %

Shares of NYSE:ECC opened at $10.00 on Monday. The stock has a market capitalization of $550.50 million, a P/E ratio of 5.62 and a beta of 0.77. The stock’s 50-day moving average price is $10.07 and its 200-day moving average price is $9.79. The company has a current ratio of 6.60, a quick ratio of 6.60 and a debt-to-equity ratio of 0.22. Eagle Point Credit has a 12-month low of $8.60 and a 12-month high of $11.79.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings results on Thursday, February 22nd. The investment management company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). Eagle Point Credit had a net margin of 84.05% and a return on equity of 14.27%. The business had revenue of $39.39 million for the quarter, compared to the consensus estimate of $39.10 million. During the same period in the previous year, the company earned $0.29 EPS. On average, equities analysts anticipate that Eagle Point Credit will post 1.39 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 Friday, June 28th. Stockholders of record on Monday, June 10th will be given a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 16.80%. The ex-dividend date is Monday, June 10th. Eagle Point Credit’s dividend payout ratio is currently 94.38%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ECC. Penserra Capital Management LLC bought a new position in Eagle Point Credit during the 3rd quarter valued at approximately $14,629,000. Black Swift Group LLC increased its position in Eagle Point Credit by 970.9% during the 3rd quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company’s stock valued at $96,000 after buying an additional 881,570 shares in the last quarter. Quadrature Capital Ltd bought a new position in Eagle Point Credit during the 4th quarter valued at approximately $1,192,000. Royal Bank of Canada increased its position in Eagle Point Credit by 60.4% during the 4th quarter. Royal Bank of Canada now owns 325,514 shares of the investment management company’s stock valued at $3,092,000 after buying an additional 122,549 shares in the last quarter. Finally, Cadent Capital Advisors LLC increased its position in Eagle Point Credit by 21.3% during the 1st quarter. Cadent Capital Advisors LLC now owns 418,945 shares of the investment management company’s stock valued at $4,236,000 after buying an additional 73,583 shares in the last quarter. Institutional investors own 19.50% of the company’s stock.

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.