Triumph Capital Management Has $972,000 Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Triumph Capital Management decreased its stake in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 25.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 109,495 shares of the investment management company's stock after selling 38,038 shares during the quarter. Triumph Capital Management owned 0.14% of Eagle Point Credit worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at $27,000. Transce3nd LLC acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at $45,000. Brown Brothers Harriman & Co. acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at $93,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at $98,000. Finally, Summitry LLC acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at $107,000. Institutional investors and hedge funds own 19.50% of the company's stock.

Wall Street Analyst Weigh In

Separately, Credit Suisse Group set a $10.00 price objective on Eagle Point Credit in a research report on Monday, April 21st.

Eagle Point Credit Stock Up 0.9%

NYSE ECC traded up $0.07 during trading on Friday, reaching $7.51. 589,309 shares of the company's stock were exchanged, compared to its average volume of 1,142,506. Eagle Point Credit Company Inc. has a fifty-two week low of $6.54 and a fifty-two week high of $10.49. The firm has a market capitalization of $577.49 million, a PE ratio of 8.93 and a beta of 0.46. 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's fifty day simple moving average is $7.72 and its 200-day simple moving average is $8.50.

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 analysts' consensus estimates of $0.28 by ($0.01). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. 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 Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a yield of 21.08%. Eagle Point Credit's payout ratio is presently 200.00%.

Insiders Place Their Bets

In other news, CEO Thomas P. Majewski purchased 1,087 shares of Eagle Point Credit stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the acquisition, the chief executive officer now directly owns 1,087 shares in the company, valued at $25,001. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company's stock.

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.