Global Assets Advisory LLC Sells 80,940 Shares of Eagle Point Credit Company Inc. $ECC

Global Assets Advisory LLC lessened its holdings in Eagle Point Credit Company Inc. (NYSE:ECC) by 74.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,222 shares of the investment management company’s stock after selling 80,940 shares during the period. Global Assets Advisory LLC’s holdings in Eagle Point Credit were worth $210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wedbush Securities Inc. lifted its holdings in Eagle Point Credit by 31.3% during the first quarter. Wedbush Securities Inc. now owns 745,271 shares of the investment management company’s stock worth $6,037,000 after acquiring an additional 177,661 shares during the period. PFG Investments LLC raised its stake in shares of Eagle Point Credit by 10.7% during the 1st quarter. PFG Investments LLC now owns 685,957 shares of the investment management company’s stock worth $5,556,000 after purchasing an additional 66,558 shares during the period. Cetera Investment Advisers raised its stake in shares of Eagle Point Credit by 151.7% during the 1st quarter. Cetera Investment Advisers now owns 70,746 shares of the investment management company’s stock worth $573,000 after purchasing an additional 42,637 shares during the period. SFI Advisors LLC boosted its holdings in shares of Eagle Point Credit by 174.6% in the 1st quarter. SFI Advisors LLC now owns 65,173 shares of the investment management company’s stock worth $528,000 after buying an additional 41,438 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Eagle Point Credit by 5.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 89,746 shares of the investment management company’s stock valued at $727,000 after buying an additional 4,423 shares during the period. 19.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ECC shares. Alliance Global Partners started coverage on shares of Eagle Point Credit in a research report on Thursday, September 18th. They issued a “buy” rating and a $7.75 price objective on the stock. Craig Hallum initiated coverage on shares of Eagle Point Credit in a report on Thursday, September 18th. They issued a “buy” rating and a $7.75 price target on the stock. LADENBURG THALM/SH SH upgraded Eagle Point Credit to a “strong-buy” rating in a research note on Wednesday, August 13th. Industrial Alliance Securities set a $7.75 target price on Eagle Point Credit in a research report on Thursday, September 18th. Finally, Zacks Research lowered Eagle Point Credit from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.21.

Eagle Point Credit Stock Performance

Shares of ECC stock opened at $6.80 on Tuesday. The firm’s 50 day moving average is $6.93 and its 200 day moving average is $7.39. The stock has a market capitalization of $522.86 million, a P/E ratio of 61.78 and a beta of 0.39. Eagle Point Credit Company Inc. has a 12 month low of $6.00 and a 12 month high of $10.00. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 10th will be issued a $0.14 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 24.7%. The ex-dividend date of this dividend is Monday, November 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 1,527.27%.

About Eagle Point Credit

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.