B. Riley Cuts Eagle Point Credit (NYSE:ECC) Price Target to $11.00

Eagle Point Credit (NYSE:ECC) had its target price lowered by B. Riley from $12.00 to $11.00 in a report issued on Tuesday morning,Benzinga reports. B. Riley currently has a buy rating on the investment management company’s stock.

Eagle Point Credit Stock Performance

NYSE ECC opened at $9.10 on Tuesday. Eagle Point Credit has a fifty-two week low of $8.56 and a fifty-two week high of $10.49. The firm has a market capitalization of $700.23 million, a P/E ratio of 11.38 and a beta of 0.75. The stock’s fifty day moving average is $9.15 and its two-hundred day moving average is $9.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27.

Eagle Point Credit Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s payout ratio is currently 210.00%.

Hedge Funds Weigh In On Eagle Point Credit

Several institutional investors and hedge funds have recently bought and sold shares of the company. PFG Investments LLC raised its position in shares of Eagle Point Credit by 42.9% during the 3rd quarter. PFG Investments LLC now owns 553,506 shares of the investment management company’s stock valued at $5,458,000 after buying an additional 166,108 shares during the period. International Assets Investment Management LLC purchased a new stake in Eagle Point Credit in the third quarter valued at $7,600,000. Main Street Financial Solutions LLC raised its position in Eagle Point Credit by 95.6% in the second quarter. Main Street Financial Solutions LLC now owns 147,447 shares of the investment management company’s stock valued at $1,482,000 after purchasing an additional 72,067 shares during the period. Oxinas Partners Wealth Management LLC lifted its stake in shares of Eagle Point Credit by 44.0% in the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock valued at $1,750,000 after purchasing an additional 54,240 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Eagle Point Credit by 92.6% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company’s stock worth $1,082,000 after purchasing an additional 52,782 shares during the period. 19.50% of the stock is currently owned by institutional investors and hedge funds.

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.