Jane Street Group LLC Cuts Stock Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Jane Street Group LLC cut its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 36.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,831 shares of the investment management company’s stock after selling 8,624 shares during the period. Jane Street Group LLC’s holdings in Eagle Point Credit were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ECC. PFG Investments LLC increased its stake in shares of Eagle Point Credit by 42.9% during the third quarter. PFG Investments LLC now owns 553,506 shares of the investment management company’s stock worth $5,458,000 after buying an additional 166,108 shares during the period. International Assets Investment Management LLC acquired a new position in Eagle Point Credit in the third quarter valued at approximately $7,600,000. Oxinas Partners Wealth Management LLC boosted its holdings in Eagle Point Credit by 44.0% in the third 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 in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Eagle Point Credit by 92.6% in the third quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company’s stock valued at $1,082,000 after purchasing an additional 52,782 shares in the last quarter. Finally, Worth Asset Management LLC boosted its holdings in Eagle Point Credit by 359.7% in the third quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock valued at $647,000 after purchasing an additional 51,367 shares in the last quarter. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Point Credit Price Performance

ECC stock opened at $8.91 on Tuesday. The company has a market capitalization of $685.61 million, a P/E ratio of 11.14 and a beta of 0.75. Eagle Point Credit Company Inc. has a twelve month low of $8.56 and a twelve month high of $10.49. The business has a 50 day simple moving average of $9.12 and a 200-day simple moving average of $9.60. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be issued a $0.14 dividend. This represents a dividend yield of 18.88%. The ex-dividend date of this dividend is Monday, January 13th. Eagle Point Credit’s payout ratio is currently 210.00%.

Analysts Set New Price Targets

Separately, B. Riley lowered their price target on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th.

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.