NBC Securities Inc. Makes New Investment in Eagle Point Credit Company Inc. (NYSE:ECC)

NBC Securities Inc. acquired a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,000 shares of the investment management company’s stock, valued at approximately $31,000.

Several other large investors have also made changes to their positions in the business. Penserra Capital Management LLC purchased a new stake in Eagle Point Credit in the 3rd quarter worth $14,629,000. Quadrature Capital Ltd purchased a new stake in shares of Eagle Point Credit during the fourth quarter worth about $1,192,000. B. Riley Wealth Advisors Inc. raised its position in shares of Eagle Point Credit by 8.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 98,561 shares of the investment management company’s stock worth $936,000 after purchasing an additional 8,066 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Eagle Point Credit by 5.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 96,127 shares of the investment management company’s stock valued at $913,000 after buying an additional 4,881 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Eagle Point Credit by 7.7% in the 4th quarter. Private Advisor Group LLC now owns 74,538 shares of the investment management company’s stock worth $708,000 after buying an additional 5,355 shares during the last quarter. 19.50% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Stock Performance

NYSE ECC opened at $10.09 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.60 and a quick ratio of 6.60. Eagle Point Credit Company Inc. has a 1-year low of $8.60 and a 1-year high of $10.58. The company has a market cap of $776.04 million, a PE ratio of 5.42 and a beta of 0.78. The stock’s 50 day simple moving average is $10.15 and its 200-day simple moving average is $9.99.

Eagle Point Credit (NYSE:ECC) last announced its earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). The business had revenue of $40.81 million for the quarter, compared to analyst estimates of $42.30 million. Eagle Point Credit had a return on equity of 14.21% and a net margin of 88.90%. As a group, equities research analysts anticipate that Eagle Point Credit Company Inc. will post 1.34 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.68 dividend on an annualized basis and a yield of 16.66%. Eagle Point Credit’s payout ratio is 90.32%.

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.