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

Key Points

• International Assets Investment Management LLC acquired a new stake in Eagle Point Credit Company Inc. by purchasing 301,100 shares valued at approximately $2.3 million, representing about 0.39% ownership of the company.
• Eagle Point Credit has recently announced a monthly dividend of $0.14, set to be paid on November 28th, which provides an impressive annualized yield of 27.7%.
• Several analysts have set a new price target for the stock, with a consensus rating of "Moderate Buy" and an average target price of $8.21.

International Assets Investment Management LLC bought a new stake in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 301,100 shares of the investment management company's stock, valued at approximately $2,306,000. International Assets Investment Management LLC owned about 0.39% of Eagle Point Credit at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. boosted its holdings in Eagle Point Credit by 91.2% in the first quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company's stock valued at $29,000 after acquiring an additional 1,713 shares during the last quarter. IFP Advisors Inc acquired a new position in shares of Eagle Point Credit during the second quarter worth about $28,000. N.E.W. Advisory Services LLC acquired a new position in shares of Eagle Point Credit during the first quarter worth about $35,000. Farther Finance Advisors LLC acquired a new position in shares of Eagle Point Credit during the second quarter worth about $35,000. Finally, TCTC Holdings LLC acquired a new position in shares of Eagle Point Credit during the first quarter worth about $45,000. Institutional investors and hedge funds own 19.50% of the company's stock.

Eagle Point Credit Trading Down 0.1%

NYSE:ECC opened at $6.08 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Eagle Point Credit Company Inc. has a one year low of $5.94 and a one year high of $9.80. The business's 50-day simple moving average is $6.88 and its 200 day simple moving average is $7.30. The stock has a market cap of $467.46 million, a price-to-earnings ratio of 55.23 and a beta of 0.39.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 28th. Investors 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 27.7%. Eagle Point Credit's payout ratio is 1,654.55%.

Analysts Set New Price Targets

ECC has been the topic of a number of recent research reports. Industrial Alliance Securities set a $7.75 price objective on Eagle Point Credit in a research note on Thursday, September 18th. Zacks Research upgraded Eagle Point Credit from a "strong sell" rating to a "hold" rating in a research note on Monday, October 13th. LADENBURG THALM/SH SH upgraded Eagle Point Credit to a "strong-buy" rating in a research note on Wednesday, August 13th. Craig Hallum began coverage on Eagle Point Credit in a research note on Thursday, September 18th. They set a "buy" rating and a $7.75 price objective on the stock. Finally, Alliance Global Partners began coverage on Eagle Point Credit in a research note on Thursday, September 18th. They issued a "buy" rating and a $7.75 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Eagle Point Credit presently has a consensus rating of "Moderate Buy" and an average price target of $8.21.

Eagle Point Credit Company 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.

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