Eagle Point Credit Company Inc. (NYSE:ECC) Stock Position Lifted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 11.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,238 shares of the investment management company’s stock after buying an additional 11,925 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.15% of Eagle Point Credit worth $1,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Financial Advocates Investment Management raised its holdings in shares of Eagle Point Credit by 4.5% during the fourth quarter. Financial Advocates Investment Management now owns 26,823 shares of the investment management company’s stock worth $255,000 after acquiring an additional 1,157 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in shares of Eagle Point Credit by 1.3% during the 1st quarter. Freestone Capital Holdings LLC now owns 90,287 shares of the investment management company’s stock worth $913,000 after purchasing an additional 1,188 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Eagle Point Credit by 1.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 97,734 shares of the investment management company’s stock valued at $988,000 after buying an additional 1,607 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Eagle Point Credit in the 1st quarter valued at approximately $31,000. Finally, Nadler Financial Group Inc. grew its stake in shares of Eagle Point Credit by 50.0% in the 2nd quarter. Nadler Financial Group Inc. now owns 15,000 shares of the investment management company’s stock valued at $151,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC opened at $9.80 on Monday. Eagle Point Credit Company Inc. has a 1 year low of $8.60 and a 1 year high of $10.49. The firm has a fifty day moving average price of $9.93 and a 200 day moving average price of $10.05. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $754.11 million, a PE ratio of 5.27 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings data on Tuesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. The company had revenue of $42.28 million for the quarter, compared to analyst estimates of $45.67 million. Analysts expect that Eagle Point Credit Company Inc. will post 1.28 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be given a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.14%. The ex-dividend date is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio is 90.32%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th.

About Eagle Point Credit

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.