Global Assets Advisory LLC Buys Shares of 108,162 Eagle Point Credit Company Inc. (NYSE:ECC)

Global Assets Advisory LLC purchased a new stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 108,162 shares of the investment management company's stock, valued at approximately $844,000. Global Assets Advisory LLC owned 0.14% of Eagle Point Credit at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc bought a new position in shares of Eagle Point Credit during the first quarter valued at approximately $25,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Eagle Point Credit in the 4th quarter worth approximately $27,000. NBC Securities Inc. purchased a new stake in shares of Eagle Point Credit in the 1st quarter worth approximately $32,000. Transce3nd LLC bought a new position in Eagle Point Credit during the 4th quarter valued at approximately $45,000. Finally, Ameriflex Group Inc. purchased a new position in Eagle Point Credit during the fourth quarter valued at $70,000. Institutional investors own 19.50% of the company's stock.

Eagle Point Credit Stock Down 0.1%

NYSE ECC traded down $0.01 during mid-day trading on Thursday, reaching $7.53. The stock had a trading volume of 895,660 shares, compared to its average volume of 1,169,770. The stock has a market cap of $579.05 million, a PE ratio of -18.81 and a beta of 0.42. Eagle Point Credit Company Inc. has a 1 year low of $6.54 and a 1 year high of $10.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The company has a fifty day moving average price of $7.70 and a 200 day moving average price of $8.24.

Eagle Point Credit (NYSE:ECC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The investment management company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $52.30 million during the quarter, compared to analysts' expectations of $53.54 million. Eagle Point Credit had a positive return on equity of 12.90% and a negative net margin of 27.15%. On average, research analysts expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be given a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 22.33%. The ex-dividend date of this dividend is Wednesday, September 10th. Eagle Point Credit's dividend payout ratio (DPR) is -420.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ECC. Credit Suisse Group set a $7.50 target price on Eagle Point Credit in a research note on Thursday, May 29th. Keefe, Bruyette & Woods cut their price objective on shares of Eagle Point Credit from $9.00 to $7.50 and set a "market perform" rating on the stock in a research report on Thursday, May 29th.

About Eagle Point Credit

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.