Zacks Research Upgrades Eagle Point Income (NYSE:EIC) to “Hold”

Eagle Point Income (NYSE:EIC) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, B. Riley cut their price target on Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. One equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.00.

Eagle Point Income Stock Performance

Shares of EIC stock opened at $11.11 on Monday. The company has a 50 day moving average of $11.32 and a 200-day moving average of $12.44. Eagle Point Income has a 12-month low of $10.81 and a 12-month high of $16.23.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc lifted its holdings in shares of Eagle Point Income by 97.4% in the second quarter. AdvisorNet Financial Inc now owns 3,322 shares of the company’s stock worth $45,000 after buying an additional 1,639 shares in the last quarter. Friedenthal Financial purchased a new position in Eagle Point Income during the second quarter valued at approximately $79,000. Advisory Services Network LLC bought a new stake in Eagle Point Income during the 3rd quarter worth approximately $89,000. Astoria Portfolio Advisors LLC. purchased a new stake in Eagle Point Income in the 3rd quarter worth approximately $131,000. Finally, Cetera Investment Advisers boosted its holdings in Eagle Point Income by 17.8% in the 2nd quarter. Cetera Investment Advisers now owns 14,369 shares of the company’s stock valued at $196,000 after purchasing an additional 2,170 shares during the period.

Eagle Point Income Company Profile

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.