Flax Pond Capital LLC Makes New $5.16 Million Investment in Eagle Point Income Company Inc. $EIC

Flax Pond Capital LLC acquired a new stake in shares of Eagle Point Income Company Inc. (NYSE:EIC) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 452,204 shares of the company’s stock, valued at approximately $5,160,000. Eagle Point Income comprises 3.8% of Flax Pond Capital LLC’s portfolio, making the stock its 4th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its holdings in shares of Eagle Point Income by 17.6% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 12,092 shares of the company’s stock worth $138,000 after purchasing an additional 1,807 shares during the last quarter. XTX Topco Ltd bought a new position in Eagle Point Income during the 4th quarter valued at about $483,000. Rivernorth Capital Management LLC bought a new position in Eagle Point Income during the 4th quarter valued at about $5,992,000. Evolve Private Wealth LLC acquired a new position in Eagle Point Income in the fourth quarter valued at about $122,000. Finally, Almitas Capital LLC acquired a new position in Eagle Point Income in the fourth quarter valued at about $919,000.

Eagle Point Income Price Performance

NYSE EIC opened at $10.09 on Friday. Eagle Point Income Company Inc. has a 52 week low of $9.17 and a 52 week high of $14.05. The stock has a fifty day moving average of $10.30 and a 200-day moving average of $10.44.

Eagle Point Income Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $0.11 dividend. This represents a c) annualized dividend and a dividend yield of 13.1%. The ex-dividend date is Thursday, September 10th.

Analyst Ratings Changes

Several analysts have weighed in on EIC shares. Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. B. Riley Financial reduced their target price on Eagle Point Income from $14.00 to $11.25 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Eagle Point Income in a report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.25.

Eagle Point Income 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.