Strategic Financial Concepts LLC Buys New Shares in Eagle Point Credit Company Inc. (NYSE:ECC)

Strategic Financial Concepts LLC purchased a new position in Eagle Point Credit Company Inc. (NYSE:ECC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,760 shares of the investment management company’s stock, valued at approximately $158,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Stifel Financial Corp purchased a new stake in shares of Eagle Point Credit during the third quarter worth about $149,000. PFG Investments LLC increased its holdings in Eagle Point Credit by 42.9% in the 3rd quarter. PFG Investments LLC now owns 553,506 shares of the investment management company’s stock valued at $5,458,000 after acquiring an additional 166,108 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in Eagle Point Credit by 92.6% in 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 in the last quarter. International Assets Investment Management LLC bought a new position in shares of Eagle Point Credit during the 3rd quarter valued at about $7,600,000. Finally, Money Concepts Capital Corp purchased a new position in shares of Eagle Point Credit during the fourth quarter valued at about $1,696,000. 19.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Eagle Point Credit Trading Down 0.2 %

ECC opened at $8.71 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The stock’s 50 day moving average price is $8.93 and its 200-day moving average price is $9.42. Eagle Point Credit Company Inc. has a one year low of $8.56 and a one year high of $10.49. The stock has a market cap of $670.23 million, a price-to-earnings ratio of 10.89 and a beta of 0.75.

Eagle Point Credit Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 14th were paid a $0.14 dividend. This represents a yield of 18.88%. The ex-dividend date was Monday, January 13th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 210.00%.

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.