Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.78 and traded as high as $3.92. Eagle Point Credit shares last traded at $3.91, with a volume of 1,341,520 shares changing hands.
Eagle Point Credit Trading Up 1.8%
The company has a quick ratio of 0.23, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $3.78 and its 200 day moving average is $3.93. The firm has a market capitalization of $516.94 million, a price-to-earnings ratio of 6.41 and a beta of 0.36.
Eagle Point Credit (NYSE:ECC – Get Free Report) last announced its earnings results on Thursday, August 13th. The investment management company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $37.90 million during the quarter, compared to analyst estimates of $41.62 million. Eagle Point Credit had a negative return on equity of 1.83% and a negative net margin of 84.29%. Equities analysts predict that Eagle Point Credit Company Inc. will post 0.68 earnings per share for the current year.
Eagle Point Credit Announces Dividend
Institutional Investors Weigh In On Eagle Point Credit
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Solutions Group LLC bought a new stake in Eagle Point Credit in the 2nd quarter valued at approximately $88,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Eagle Point Credit in the second quarter valued at approximately $91,000. Kingsview Wealth Management LLC bought a new stake in shares of Eagle Point Credit in the second quarter worth $37,000. Beacon Pointe Advisors LLC acquired a new position in Eagle Point Credit during the second quarter worth $37,000. Finally, Cibc World Market Inc. acquired a new position in Eagle Point Credit during the second quarter worth $75,000. Institutional investors and hedge funds own 19.50% of the company’s stock.
About Eagle Point Credit
Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.
The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.
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