Eagle Point Credit Company Inc. (NYSE:ECC) Holdings Cut by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,052 shares of the investment management company's stock after selling 37,398 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.09% of Eagle Point Credit worth $595,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC raised its stake in shares of Eagle Point Credit by 20,306.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 847,871 shares of the investment management company's stock valued at $7,580,000 after acquiring an additional 843,716 shares during the period. Raymond James Financial Inc. purchased a new position in Eagle Point Credit in the fourth quarter valued at about $2,038,000. Money Concepts Capital Corp acquired a new position in shares of Eagle Point Credit during the fourth quarter worth about $1,696,000. Balboa Wealth Partners purchased a new stake in shares of Eagle Point Credit in the fourth quarter worth about $839,000. Finally, Wedbush Securities Inc. grew its stake in shares of Eagle Point Credit by 17.0% in the fourth quarter. Wedbush Securities Inc. now owns 567,610 shares of the investment management company's stock valued at $5,040,000 after buying an additional 82,367 shares in the last quarter. Hedge funds and other institutional investors own 19.50% of the company's stock.

Eagle Point Credit Stock Down 0.6 %

Shares of NYSE:ECC traded down $0.05 during trading on Tuesday, hitting $7.77. The company's stock had a trading volume of 324,543 shares, compared to its average volume of 1,111,351. Eagle Point Credit Company Inc. has a fifty-two week low of $6.54 and a fifty-two week high of $10.49. The stock's 50-day moving average price is $8.00 and its two-hundred day moving average price is $8.72. 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 company has a market capitalization of $597.50 million, a PE ratio of 9.24 and a beta of 0.35.

Eagle Point Credit (NYSE:ECC - Get Free Report) last announced its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The business had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. As a group, sell-side analysts expect that Eagle Point Credit Company Inc. will post 1.1 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit's dividend payout ratio is currently 200.00%.

Insiders Place Their Bets

In related 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 approximately $25,001. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on ECC shares. B. Riley reduced their price target on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Credit Suisse Group set a $10.00 target price on shares of Eagle Point Credit in a research note on Monday, April 21st.

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.