Cadent Capital Advisors LLC Cuts Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Cadent Capital Advisors LLC lowered its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 28.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 239,213 shares of the investment management company's stock after selling 95,587 shares during the period. Cadent Capital Advisors LLC owned approximately 0.31% of Eagle Point Credit worth $1,938,000 as of its most recent SEC filing.

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

Eagle Point Credit Stock Performance

NYSE ECC traded up $0.02 on Friday, reaching $7.55. 771,574 shares of the stock were exchanged, compared to its average volume of 1,166,324. Eagle Point Credit Company Inc. has a one year low of $6.54 and a one year high of $10.32. The firm has a market capitalization of $580.59 million, a PE ratio of -18.86 and a beta of 0.42. The company's 50-day simple moving average is $7.68 and its two-hundred day simple moving average is $8.27. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.

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

Eagle Point Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 22.27%. The ex-dividend date is Wednesday, September 10th. Eagle Point Credit's dividend payout ratio (DPR) is currently -420.00%.

Analysts Set New Price Targets

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

Eagle Point Credit 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.