International Assets Investment Management LLC Boosts Holdings in Eagle Point Credit Company Inc. $ECC

Key Points

• International Assets Investment Management LLC boosted its stake in Eagle Point Credit (NYSE: ECC) by 201.8% in Q4, acquiring 854,625 shares to hold 1,278,195 shares (about a 1.01% stake) valued at roughly $7.36 million per its 13F filing.
• Portfolio Manager Daniel W. Ko purchased 57,165 shares at $3.50 on March 18, increasing his ownership by 224.18% to 82,665 shares (≈$200,078 transaction).
• Eagle Point announced a monthly dividend of $0.06 payable June 30 (record date June 10), implying a 16.9% yield

International Assets Investment Management LLC lifted its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 201.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,278,195 shares of the investment management company's stock after acquiring an additional 854,625 shares during the quarter. International Assets Investment Management LLC owned 1.01% of Eagle Point Credit worth $7,362,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. PFG Investments LLC boosted its stake in shares of Eagle Point Credit by 2.8% during the 4th quarter. PFG Investments LLC now owns 839,463 shares of the investment management company's stock worth $4,835,000 after acquiring an additional 22,499 shares in the last quarter. North Ground Capital purchased a new stake in shares of Eagle Point Credit during the 3rd quarter worth about $4,186,000. Freestone Capital Holdings LLC boosted its stake in shares of Eagle Point Credit by 58.7% during the 4th quarter. Freestone Capital Holdings LLC now owns 528,356 shares of the investment management company's stock worth $3,043,000 after acquiring an additional 195,503 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Eagle Point Credit during the 3rd quarter worth about $2,203,000. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Eagle Point Credit by 4.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 306,809 shares of the investment management company's stock worth $2,028,000 after acquiring an additional 11,940 shares in the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Portfolio Manager Daniel W. Ko bought 57,165 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average price of $3.50 per share, for a total transaction of $200,077.50. Following the acquisition, the portfolio manager owned 82,665 shares of the company's stock, valued at approximately $289,327.50. This trade represents a 224.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company's stock.

Eagle Point Credit Price Performance

Shares of NYSE ECC opened at $4.26 on Friday. The company has a 50 day simple moving average of $3.92 and a 200-day simple moving average of $5.04. The company has a market capitalization of $563.08 million, a P/E ratio of 22.42 and a beta of 0.35. Eagle Point Credit Company Inc. has a 1 year low of $3.46 and a 1 year high of $8.05.

Eagle Point Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be issued a $0.06 dividend. This represents a c) annualized dividend and a yield of 16.9%. The ex-dividend date is Wednesday, June 10th. Eagle Point Credit's dividend payout ratio (DPR) is 873.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ECC shares. Credit Suisse Group set a $5.00 target price on shares of Eagle Point Credit in a research note on Wednesday, February 18th. LADENBURG THALM/SH SH lowered shares of Eagle Point Credit from a "buy" rating to a "neutral" rating in a research note on Monday, March 2nd. Zacks Research raised shares of Eagle Point Credit from a "strong sell" rating to a "hold" rating in a research note on Friday, May 1st. Alliance Global Partners reissued a "buy" rating on shares of Eagle Point Credit in a research note on Wednesday, April 15th. Finally, B. Riley Financial lowered their target price on shares of Eagle Point Credit from $7.00 to $4.25 and set a "buy" rating on the stock in a research note on Monday, March 16th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Eagle Point Credit has an average rating of "Moderate Buy" and a consensus price target of $6.67.

Eagle Point Credit Profile

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.

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