Eagle Point Credit Company Inc. (NYSE:ECC) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,691 shares of the investment management company’s stock after acquiring an additional 1,666 shares during the quarter. Commonwealth Equity Services LLC owned about 0.13% of Eagle Point Credit worth $921,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CFO4Life Group LLC grew its holdings in shares of Eagle Point Credit by 29.9% in the fourth quarter. CFO4Life Group LLC now owns 23,475 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 5,400 shares during the period. Balboa Wealth Partners purchased a new stake in shares of Eagle Point Credit in the 4th quarter valued at approximately $839,000. Freestone Capital Holdings LLC increased its holdings in shares of Eagle Point Credit by 26.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 222,083 shares of the investment management company’s stock worth $1,972,000 after buying an additional 46,006 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Eagle Point Credit during the 4th quarter valued at approximately $2,038,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Eagle Point Credit in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley cut their target price 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.

Insider Activity at Eagle Point Credit

In other Eagle Point Credit news, CEO Thomas P. Majewski purchased 1,087 shares of Eagle Point Credit stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the transaction, the chief executive officer now owns 1,087 shares of the company’s stock, valued at $25,001. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

Eagle Point Credit Trading Up 1.2 %

NYSE ECC opened at $8.20 on Wednesday. Eagle Point Credit Company Inc. has a 12 month low of $7.36 and a 12 month high of $10.49. The stock has a market capitalization of $630.59 million, a P/E ratio of 9.76 and a beta of 0.73. The firm’s 50-day moving average is $8.52 and its two-hundred day moving average is $9.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $49.55 million for the quarter, compared to analysts’ expectations of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. On average, sell-side analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit’s payout ratio is 200.00%.

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.