Legacy Wealth Managment LLC ID decreased its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 809,284 shares of the investment management company's stock after selling 38,587 shares during the quarter. Eagle Point Credit makes up 4.6% of Legacy Wealth Managment LLC ID's investment portfolio, making the stock its 6th largest position. Legacy Wealth Managment LLC ID owned approximately 1.05% of Eagle Point Credit worth $6,555,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ieq Capital LLC grew its stake in shares of Eagle Point Credit by 80.7% during the 1st quarter. Ieq Capital LLC now owns 29,589 shares of the investment management company's stock worth $240,000 after acquiring an additional 13,210 shares during the period. Samalin Investment Counsel LLC grew its stake in shares of Eagle Point Credit by 23.3% during the 1st quarter. Samalin Investment Counsel LLC now owns 66,208 shares of the investment management company's stock worth $536,000 after acquiring an additional 12,504 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Eagle Point Credit by 7.4% during the 1st quarter. Kestra Advisory Services LLC now owns 127,787 shares of the investment management company's stock worth $1,035,000 after acquiring an additional 8,794 shares during the period. SFI Advisors LLC grew its stake in shares of Eagle Point Credit by 174.6% during the 1st quarter. SFI Advisors LLC now owns 65,173 shares of the investment management company's stock worth $528,000 after acquiring an additional 41,438 shares during the period. Finally, Freestone Capital Holdings LLC grew its stake 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 acquiring an additional 128,531 shares during the period. Institutional investors own 19.50% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ECC shares. LADENBURG THALM/SH SH upgraded Eagle Point Credit to a "strong-buy" rating in a research note on Wednesday, August 13th. Credit Suisse Group set a $7.50 target price on Eagle Point Credit in a research note on Thursday, May 29th. Finally, Keefe, Bruyette & Woods cut their target price on Eagle Point Credit from $9.00 to $7.50 and set a "market perform" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $8.67.
Get Our Latest Analysis on Eagle Point Credit
Eagle Point Credit Price Performance
NYSE ECC traded down $0.08 during trading hours on Wednesday, hitting $7.07. The company had a trading volume of 1,998,315 shares, compared to its average volume of 1,479,239. The firm has a market capitalization of $543.65 million, a price-to-earnings ratio of 64.23 and a beta of 0.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $7.61. Eagle Point Credit Company Inc. has a 52 week low of $6.00 and a 52 week high of $10.00.
Eagle Point Credit Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 10th will be given a dividend of $0.14 per share. This represents a c) dividend on an annualized basis and a dividend yield of 23.8%. The ex-dividend date is Monday, November 10th. Eagle Point Credit's dividend payout ratio (DPR) is 1,527.27%.
About Eagle Point Credit
(
Free Report)
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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