Eagle Point Credit Company Inc. (NYSE:ECC) Shares Acquired by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC raised its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,235 shares of the investment management company's stock after purchasing an additional 54,903 shares during the period. Eagle Point Credit accounts for about 0.7% of Virtus ETF Advisers LLC's portfolio, making the stock its 6th biggest position. Virtus ETF Advisers LLC owned about 0.24% of Eagle Point Credit worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other Eagle Point Credit news, CEO Thomas P. Majewski purchased 1,087 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares in the company, valued at approximately $25,001. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have 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 for the company in a research report on Tuesday, January 7th. Credit Suisse Group set a $10.00 price target on shares of Eagle Point Credit in a research report on Monday, April 21st.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC traded up $0.03 on Thursday, hitting $7.80. 794,260 shares of the company were exchanged, compared to its average volume of 1,119,896. The firm has a market capitalization of $600.19 million, a P/E ratio of 9.29 and a beta of 0.35. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average price is $7.96 and its 200 day moving average price is $8.71. Eagle Point Credit Company Inc. has a 1-year low of $6.54 and a 1-year high of $10.49.

Eagle Point Credit (NYSE:ECC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $49.76 million. Sell-side analysts predict that Eagle Point Credit Company Inc. will post 1.1 EPS for the current year.

Eagle Point Credit Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, April 10th. Eagle Point Credit's dividend payout ratio (DPR) is presently 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.