SFI Advisors LLC Grows Position in Eagle Point Credit Company Inc. $ECC

Key Points

• SFI Advisors LLC significantly increased its stake in Eagle Point Credit Company Inc. by 174.6%, acquiring an additional 41,438 shares to hold a total of 65,173 shares worth approximately $528,000.
• The company recently announced a dividend of $0.14 per share with a dividend yield of 25.1%, to be paid on December 31st.
• Eagle Point Credit's stock has a market capitalization of $515.57 million and a 52-week price range between $6.00 and $10.06, currently trading at $6.70.

SFI Advisors LLC increased its holdings in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 174.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,173 shares of the investment management company's stock after purchasing an additional 41,438 shares during the period. SFI Advisors LLC owned approximately 0.08% of Eagle Point Credit worth $528,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Freestone Capital Holdings LLC increased its position in Eagle Point Credit by 57.9% in the first 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 during the last quarter. PNC Financial Services Group Inc. increased its position in Eagle Point Credit by 550.0% in the first quarter. PNC Financial Services Group Inc. now owns 9,100 shares of the investment management company's stock worth $74,000 after purchasing an additional 7,700 shares during the last quarter. First Foundation Advisors bought a new stake in Eagle Point Credit in the first quarter worth $94,000. N.E.W. Advisory Services LLC bought a new stake in Eagle Point Credit in the first quarter worth $35,000. Finally, TCTC Holdings LLC bought a new stake in Eagle Point Credit in the first quarter worth $45,000. Institutional investors own 19.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ECC shares. LADENBURG THALM/SH SH upgraded shares of Eagle Point Credit to a "strong-buy" rating in a research report on Wednesday, August 13th. Credit Suisse Group set a $7.50 price objective on shares of Eagle Point Credit in a research report on Thursday, May 29th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Eagle Point Credit from $9.00 to $7.50 and set a "market perform" rating on the stock in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $8.67.

Eagle Point Credit Trading Up 1.8%

Shares of ECC traded up $0.1250 during trading hours on Friday, reaching $7.0050. 1,104,592 shares of the company traded hands, compared to its average volume of 1,912,512. The firm has a market cap of $539.03 million, a price-to-earnings ratio of 63.69 and a beta of 0.38. Eagle Point Credit Company Inc. has a 12-month low of $6.00 and a 12-month high of $10.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average price is $7.21 and its 200 day moving average price is $7.73.

Eagle Point Credit (NYSE:ECC - Get Free Report) last issued its earnings results on Wednesday, May 28th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.02. The firm had revenue of $52.30 million during the quarter, compared to analyst estimates of $53.54 million. Eagle Point Credit had a net margin of 6.73% and a return on equity of 13.49%. Sell-side analysts forecast that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be paid a dividend of $0.14 per share. This represents a c) dividend on an annualized basis and a dividend yield of 24.0%. The ex-dividend date of this dividend is Thursday, December 11th. Eagle Point Credit's payout ratio is currently 1,527.27%.

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.