Eagle Point Income (NYSE:EIC) Price Target Lowered to $11.25 at B. Riley Financial

Eagle Point Income (NYSE:EIC) had its price objective decreased by B. Riley Financial from $14.00 to $11.25 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s target price indicates a potential upside of 18.61% from the company’s previous close.

EIC has been the topic of a number of other reports. Zacks Research lowered Eagle Point Income from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eagle Point Income in a research note on Friday, February 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Eagle Point Income currently has an average rating of “Hold” and an average target price of $11.25.

Eagle Point Income Stock Down 0.6%

Eagle Point Income stock traded down $0.06 during midday trading on Monday, hitting $9.49. 68,185 shares of the stock were exchanged, compared to its average volume of 214,487. Eagle Point Income has a 52-week low of $9.30 and a 52-week high of $15.33. The business’s 50-day moving average price is $10.49 and its 200-day moving average price is $11.67.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $14.70 million.

Hedge Funds Weigh In On Eagle Point Income

A number of institutional investors and hedge funds have recently modified their holdings of EIC. EverSource Wealth Advisors LLC increased its position in shares of Eagle Point Income by 63.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the last quarter. TCTC Holdings LLC lifted its position in Eagle Point Income by 38.5% in the fourth quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock worth $41,000 after buying an additional 1,000 shares during the last quarter. N.E.W. Advisory Services LLC boosted its stake in Eagle Point Income by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock worth $46,000 after buying an additional 2,000 shares during the period. Advisory Services Network LLC bought a new position in Eagle Point Income during the third quarter valued at $89,000. Finally, Evolve Private Wealth LLC bought a new position in Eagle Point Income during the fourth quarter valued at $122,000.

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.