Eagle Point Credit Company Inc. $ECC Shares Purchased by SFI Advisors LLC

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

Several other hedge funds also recently made changes to their positions in ECC. Raymond James Financial Inc. acquired a new stake in shares of Eagle Point Credit in the 4th quarter worth $2,038,000. Wedbush Securities Inc. lifted its stake in shares of Eagle Point Credit by 31.3% in the first quarter. Wedbush Securities Inc. now owns 745,271 shares of the investment management company's stock valued at $6,037,000 after purchasing an additional 177,661 shares during the period. Freestone Capital Holdings LLC lifted its stake in shares of 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 valued at $2,840,000 after purchasing an additional 128,531 shares during the period. Money Concepts Capital Corp lifted its stake in shares of Eagle Point Credit by 61.3% in the first quarter. Money Concepts Capital Corp now owns 308,196 shares of the investment management company's stock valued at $2,496,000 after purchasing an additional 117,157 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Eagle Point Credit by 75.6% in the first quarter. J.W. Cole Advisors Inc. now owns 266,515 shares of the investment management company's stock valued at $2,159,000 after purchasing an additional 114,706 shares during the period. Institutional investors and hedge funds own 19.50% of the company's stock.

Analyst Ratings Changes

ECC has been the subject of several recent analyst reports. Credit Suisse Group set a $7.50 price objective on shares of Eagle Point Credit in a research note on Thursday, May 29th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, LADENBURG THALM/SH SH upgraded shares of Eagle Point Credit to a "strong-buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $8.67.

Eagle Point Credit Trading Up 1.8%

Shares of NYSE ECC traded up $0.1250 during midday trading on Friday, reaching $7.0050. 1,099,873 shares of the stock were exchanged, compared to its average volume of 1,437,372. The company has a market capitalization of $539.02 million, a P/E ratio of 63.69 and a beta of 0.38. Eagle Point Credit Company Inc. has a 52-week low of $6.00 and a 52-week 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 has a 50 day moving average price of $7.22 and a 200-day moving average price of $7.74.

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

Eagle Point Credit Announces Dividend

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