Eagle Point Credit Company Inc. (NYSE:ECC) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Consensus "Hold": Six analysts rate Eagle Point Credit a consensus "Hold" (1 sell, 2 hold, 3 buy) with an average 12‑month price target of $6.67 amid recent downgrades and price-target cuts.
• Insider buying: Portfolio Manager Daniel W. Ko bought 57,165 shares at $3.50, increasing his stake by 224% to 82,665 shares, while institutional investors own about 19.5% of the company.
• High-yield dividend but unsustainable payout: The company announced a $0.06 monthly dividend (≈17.7% yield), but the dividend payout ratio is an elevated 842.11%, raising sustainability concerns.

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) has earned a consensus recommendation of "Hold" from the six analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.6667.

Several equities analysts recently commented on ECC shares. LADENBURG THALM/SH SH lowered Eagle Point Credit from a "buy" rating to a "neutral" rating in a research report on Monday, March 2nd. B. Riley Financial lowered their price objective on shares of Eagle Point Credit from $7.00 to $4.25 and set a "buy" rating for the company in a research report on Monday, March 16th. Alliance Global Partners reiterated a "buy" rating on shares of Eagle Point Credit in a research note on Wednesday, April 15th. Zacks Research cut shares of Eagle Point Credit from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 10th. Finally, Credit Suisse Group set a $5.00 price target on shares of Eagle Point Credit in a report on Wednesday, February 18th.

Insider Buying and Selling at Eagle Point Credit

In other Eagle Point Credit news, Portfolio Manager Daniel W. Ko bought 57,165 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $3.50 per share, with a total value of $200,077.50. Following the completion of the transaction, the portfolio manager owned 82,665 shares in the company, valued at $289,327.50. The trade was a 224.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eagle Point Credit

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in shares of Eagle Point Credit in the 1st quarter valued at approximately $134,000. Creative Planning acquired a new stake in shares of Eagle Point Credit during the second quarter worth approximately $96,000. NewEdge Advisors LLC increased its stake in shares of Eagle Point Credit by 647.5% in the second quarter. NewEdge Advisors LLC now owns 22,260 shares of the investment management company's stock worth $171,000 after buying an additional 19,282 shares during the last quarter. Vident Advisory LLC bought a new stake in shares of Eagle Point Credit in the second quarter worth $206,000. Finally, Corient Private Wealth LLC acquired a new stake in Eagle Point Credit in the second quarter valued at $128,000. Institutional investors and hedge funds own 19.50% of the company's stock.

Eagle Point Credit Price Performance

Shares of ECC opened at $4.08 on Friday. The stock's 50-day moving average is $3.90 and its two-hundred day moving average is $5.10. The stock has a market cap of $538.76 million, a PE ratio of 21.45 and a beta of 0.30. Eagle Point Credit has a 12 month low of $3.46 and a 12 month high of $8.23.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 17.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Eagle Point Credit's dividend payout ratio is presently 842.11%.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.

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