Global Assets Advisory LLC Has $210,000 Holdings in Eagle Point Credit Company Inc. $ECC

Key Points

• Global Assets Advisory LLC has reduced its stake in Eagle Point Credit Company Inc. by 74.8%, decreasing its holdings to 27,222 shares valued at $210,000 as of the latest filing.
• The company has declared a **monthly dividend** of $0.14, with a dividend yield of **24.7%**, payable on November 28th.
• Analyst ratings are mixed, with targets set around **$7.75**, while the stock currently trades at **$6.80**, reflecting a moderate buy consensus.

Global Assets Advisory LLC decreased its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 74.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,222 shares of the investment management company's stock after selling 80,940 shares during the quarter. Global Assets Advisory LLC's holdings in Eagle Point Credit were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ECC. Wedbush Securities Inc. boosted its stake in Eagle Point Credit by 31.3% during the first quarter. Wedbush Securities Inc. now owns 745,271 shares of the investment management company's stock worth $6,037,000 after acquiring an additional 177,661 shares in the last quarter. PFG Investments LLC raised its holdings in shares of Eagle Point Credit by 7.9% during the second quarter. PFG Investments LLC now owns 740,183 shares of the investment management company's stock valued at $5,670,000 after purchasing an additional 54,226 shares during the period. Freestone Capital Holdings LLC boosted its position in shares of Eagle Point Credit by 57.9% during the 1st quarter. Freestone Capital Holdings LLC now owns 350,614 shares of the investment management company's stock worth $2,840,000 after purchasing an additional 128,531 shares in the last quarter. Money Concepts Capital Corp grew its stake in shares of Eagle Point Credit by 61.3% in the 1st quarter. Money Concepts Capital Corp now owns 308,196 shares of the investment management company's stock valued at $2,496,000 after buying an additional 117,157 shares during the period. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Eagle Point Credit by 75.6% in the 1st quarter. J.W. Cole Advisors Inc. now owns 266,515 shares of the investment management company's stock valued at $2,159,000 after buying an additional 114,706 shares during the period. Institutional investors own 19.50% of the company's stock.

Eagle Point Credit Stock Down 0.4%

Shares of NYSE:ECC opened at $6.80 on Tuesday. The business's 50 day moving average is $6.93 and its 200 day moving average is $7.39. Eagle Point Credit Company Inc. has a 12-month low of $6.00 and a 12-month high of $10.00. The stock has a market cap of $522.86 million, a price-to-earnings ratio of 61.78 and a beta of 0.39. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 10th will be paid a $0.14 dividend. The ex-dividend date is Monday, November 10th. This represents a c) annualized dividend and a dividend yield of 24.7%. Eagle Point Credit's dividend payout ratio is presently 1,527.27%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Industrial Alliance Securities set a $7.75 price target on Eagle Point Credit in a research note on Thursday, September 18th. Alliance Global Partners assumed coverage on Eagle Point Credit in a research report on Thursday, September 18th. They set a "buy" rating and a $7.75 target price on the stock. Craig Hallum began coverage on shares of Eagle Point Credit in a research report on Thursday, September 18th. They issued a "buy" rating and a $7.75 price target for the company. LADENBURG THALM/SH SH upgraded shares of Eagle Point Credit to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Zacks Research lowered shares of Eagle Point Credit from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Eagle Point Credit has an average rating of "Moderate Buy" and a consensus price target of $8.21.

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.

Want to see what other hedge funds are holding ECC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Point Credit Company Inc. (NYSE:ECC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.