CoreCap Advisors LLC Decreases Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

CoreCap Advisors LLC reduced its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 48.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,800 shares of the investment management company’s stock after selling 4,436 shares during the period. CoreCap Advisors LLC’s holdings in Eagle Point Credit were worth $43,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ECC. Union Bancaire Privee UBP SA purchased a new position in Eagle Point Credit in the 4th quarter worth $27,000. Transce3nd LLC acquired a new position in shares of Eagle Point Credit in the fourth quarter valued at about $45,000. Brown Brothers Harriman & Co. purchased a new position in shares of Eagle Point Credit in the fourth quarter worth about $93,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Eagle Point Credit in the fourth quarter worth about $98,000. Finally, Summitry LLC acquired a new stake in shares of Eagle Point Credit during the fourth quarter worth about $107,000. 19.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Credit Suisse Group set a $10.00 price target on shares of Eagle Point Credit in a report on Monday, April 21st.

Insiders Place Their Bets

In other news, CEO Thomas P. Majewski bought 1,087 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares in the company, valued at approximately $25,001. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Eagle Point Credit Trading Down 1.8%

NYSE ECC opened at $7.70 on Thursday. Eagle Point Credit Company Inc. has a 1 year low of $6.54 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The company has a market capitalization of $592.50 million, a PE ratio of 9.17 and a beta of 0.46. The company has a fifty day moving average of $7.80 and a 200 day moving average of $8.59.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The company had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. Research 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 disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a $0.14 dividend. The ex-dividend date is Monday, May 12th. This represents a yield of 21.08%. Eagle Point Credit’s dividend payout ratio is presently 200.00%.

Eagle Point Credit 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.