Choreo LLC Acquires New Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Choreo LLC bought a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 37,509 shares of the investment management company’s stock, valued at approximately $377,000.

Other large investors have also modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Eagle Point Credit in the first quarter valued at about $31,000. Nadler Financial Group Inc. acquired a new stake in shares of Eagle Point Credit during the 1st quarter worth approximately $101,000. CFO4Life Group LLC acquired a new position in Eagle Point Credit in the first quarter valued at approximately $105,000. Silverleafe Capital Partners LLC purchased a new position in Eagle Point Credit in the second quarter worth approximately $109,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Eagle Point Credit in the 1st quarter valued at about $114,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered 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.

Eagle Point Credit Price Performance

Shares of NYSE ECC opened at $9.81 on Tuesday. The stock’s 50-day moving average is $9.92 and its two-hundred day moving average is $10.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.98 and a quick ratio of 2.98. Eagle Point Credit Company Inc. has a 1-year low of $8.60 and a 1-year high of $10.49. The company has a market cap of $754.49 million, a price-to-earnings 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 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.08). Eagle Point Credit had a return on equity of 12.87% and a net margin of 76.61%. The company had revenue of $42.28 million for the quarter, compared to analysts’ expectations of $45.67 million. Analysts forecast 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 announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be issued a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 17.13%. The ex-dividend date of this dividend is Wednesday, December 11th. 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.