Thomas J. Herzfeld Advisors Inc. Buys 82,061 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Thomas J. Herzfeld Advisors Inc. increased its position in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 66.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,460 shares of the investment management company's stock after acquiring an additional 82,061 shares during the quarter. Thomas J. Herzfeld Advisors Inc. owned about 0.27% of Eagle Point Credit worth $1,833,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Eagle Point Credit during the 4th quarter valued at $93,000. Summitry LLC bought a new stake in Eagle Point Credit during the fourth quarter valued at $107,000. Commonwealth Equity Services LLC grew its position in Eagle Point Credit by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company's stock worth $921,000 after buying an additional 1,666 shares in the last quarter. CFO4Life Group LLC increased its stake in Eagle Point Credit by 29.9% in the 4th quarter. CFO4Life Group LLC now owns 23,475 shares of the investment management company's stock worth $208,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in Eagle Point Credit in the 4th quarter worth about $839,000. Hedge funds and other institutional investors own 19.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price objective on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, January 7th.

Eagle Point Credit Price Performance

Shares of Eagle Point Credit stock traded down $0.53 on Friday, hitting $7.22. 2,877,264 shares of the company traded hands, compared to its average volume of 1,036,018. Eagle Point Credit Company Inc. has a 12-month low of $6.95 and a 12-month high of $10.49. 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 company has a market cap of $555.18 million, a P/E ratio of 8.59 and a beta of 0.35. The firm's 50-day simple moving average is $8.46 and its 200 day simple moving average is $9.02.

Eagle Point Credit (NYSE:ECC - Get Free Report) last released its quarterly earnings results 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). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The firm had revenue of $49.55 million for the quarter, compared to analysts' expectations of $49.76 million. Analysts expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Thomas P. Majewski acquired 1,087 shares of the company's stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the purchase, the chief executive officer now owns 1,087 shares in the company, valued at $25,001. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

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.