International Assets Investment Management LLC Has $1.58 Million Stake in Eagle Point Credit Company Inc. $ECC

International Assets Investment Management LLC reduced its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 68.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,427 shares of the investment management company’s stock after selling 880,768 shares during the quarter. International Assets Investment Management LLC owned 0.30% of Eagle Point Credit worth $1,578,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC lifted its holdings in shares of Eagle Point Credit by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 2,650 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Eagle Point Credit by 135.5% during the fourth quarter. Royal Bank of Canada now owns 5,600 shares of the investment management company’s stock worth $32,000 after buying an additional 3,222 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Eagle Point Credit in the 2nd quarter valued at approximately $33,000. TCTC Holdings LLC raised its position in Eagle Point Credit by 45.5% in the 4th quarter. TCTC Holdings LLC now owns 8,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 2,500 shares during the last quarter. Finally, Arlington Capital Management Inc. bought a new stake in Eagle Point Credit in the 4th quarter valued at approximately $60,000. Institutional investors own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

ECC has been the subject of a number of recent research reports. B. Riley Financial reduced their price target on Eagle Point Credit from $7.00 to $4.25 and set a “buy” rating for the company in a research report on Monday, March 16th. Alliance Global Partners reiterated a “buy” rating on shares of Eagle Point Credit in a report on Wednesday, April 15th. Finally, Zacks Research raised shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.50.

Eagle Point Credit Stock Up 0.4%

NYSE:ECC opened at $3.87 on Monday. Eagle Point Credit Company Inc. has a twelve month low of $3.46 and a twelve month high of $7.77. The firm has a market capitalization of $510.99 million, a price-to-earnings ratio of 4.07 and a beta of 0.36. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $3.95 and its two-hundred day moving average price is $4.37.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings data on Tuesday, May 19th. The investment management company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Eagle Point Credit had a negative net margin of 87.16% and a negative return on equity of 1.09%. The company had revenue of $42.40 million during the quarter, compared to analyst estimates of $48.79 million. Equities research analysts expect that Eagle Point Credit Company Inc. will post 0.71 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 18.6%. The ex-dividend date of this dividend is Thursday, September 10th. Eagle Point Credit’s payout ratio is 151.58%.

Eagle Point Credit Profile

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.