Eagle Point Credit Company Inc. $ECC Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 268.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,357 shares of the investment management company’s stock after acquiring an additional 180,305 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.20% of Eagle Point Credit worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ECC. N.E.W. Advisory Services LLC lifted its holdings in Eagle Point Credit by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock worth $31,000 after buying an additional 2,650 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Eagle Point Credit in the 3rd quarter worth $33,000. Geneos Wealth Management Inc. acquired a new position in Eagle Point Credit in the 2nd quarter worth $33,000. Arlington Capital Management Inc. acquired a new position in Eagle Point Credit in the 4th quarter worth $60,000. Finally, Tower Research Capital LLC TRC acquired a new position in Eagle Point Credit in the 2nd quarter worth $65,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ECC shares. LADENBURG THALM/SH SH lowered shares of Eagle Point Credit from a “buy” rating to a “neutral” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. B. Riley Financial cut their price objective on shares of Eagle Point Credit from $7.00 to $4.25 and set a “buy” rating on the stock in a report on Monday, March 16th. Alliance Global Partners reiterated a “buy” rating on shares of Eagle Point Credit in a report on Wednesday, April 15th. Finally, Credit Suisse Group set a $5.00 price objective on shares of Eagle Point Credit in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Insider Buying and Selling at Eagle Point Credit

In related news, Portfolio Manager Daniel W. Ko bought 57,165 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of $3.50 per share, with a total value of $200,077.50. Following the transaction, the portfolio manager owned 82,665 shares of the company’s stock, valued at approximately $289,327.50. This trade represents a 224.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Eagle Point Credit Price Performance

ECC opened at $4.03 on Wednesday. The company has a 50-day moving average of $4.04 and a 200-day moving average of $4.73. The company has a market capitalization of $532.15 million, a P/E ratio of 4.24 and a beta of 0.35. Eagle Point Credit Company Inc. has a 1-year low of $3.46 and a 1-year high of $7.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.23 and a current ratio of 0.23.

Eagle Point Credit (NYSE:ECC) last released its earnings results on Tuesday, May 19th. The investment management company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $42.40 million during the quarter, compared to the consensus estimate of $48.79 million. Eagle Point Credit had a return on equity of 13.47% and a net margin of 12.33%. Equities analysts expect that Eagle Point Credit Company Inc. will post 0.71 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 17.9%. Eagle Point Credit’s payout ratio is presently 160.00%.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.