Eagle Point Credit Company Inc. (NYSE:ECC) Shares Acquired by Sage Capital Advisors llc

Sage Capital Advisors llc lifted its holdings in Eagle Point Credit Company Inc. (NYSE:ECC) by 6.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,923 shares of the investment management company’s stock after purchasing an additional 2,986 shares during the quarter. Sage Capital Advisors llc owned about 0.06% of Eagle Point Credit worth $482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new position in shares of Eagle Point Credit in the 4th quarter valued at approximately $1,192,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of Eagle Point Credit by 8.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 98,561 shares of the investment management company’s stock worth $936,000 after buying an additional 8,066 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Eagle Point Credit during the first quarter worth $31,000. Cadent Capital Advisors LLC grew its holdings in shares of Eagle Point Credit by 21.3% during the first 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 during the last quarter. Finally, Oxinas Partners Wealth Management LLC increased its position in shares of Eagle Point Credit by 18.2% in the 1st quarter. Oxinas Partners Wealth Management LLC now owns 99,433 shares of the investment management company’s stock valued at $1,005,000 after acquiring an additional 15,284 shares during the period. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Point Credit Price Performance

Shares of NYSE ECC opened at $9.98 on Wednesday. Eagle Point Credit Company Inc. has a 52 week low of $8.60 and a 52 week high of $10.49. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.19. The firm has a market cap of $767.94 million, a P/E ratio of 5.37 and a beta of 0.76. The business’s 50 day moving average price is $9.86 and its 200 day moving average price is $10.02.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings data on Tuesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate 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 business had revenue of $42.28 million during the quarter, compared to analysts’ expectations of $45.67 million. On average, sell-side analysts expect that Eagle Point Credit Company Inc. will post 1.11 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.83%. Eagle Point Credit’s payout ratio is currently 90.32%.

Analyst Upgrades and Downgrades

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

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.