Penserra Capital Management LLC Takes $9.96 Million Position in Eagle Point Income Company Inc. $EIC

Penserra Capital Management LLC bought a new position in Eagle Point Income Company Inc. (NYSE:EIC) during the third quarter, Holdings Channel reports. The firm bought 739,945 shares of the company’s stock, valued at approximately $9,959,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Friedenthal Financial purchased a new position in Eagle Point Income during the second quarter valued at approximately $79,000. Whipplewood Advisors LLC acquired a new stake in shares of Eagle Point Income during the 2nd quarter worth approximately $2,199,000. Envestnet Asset Management Inc. grew its stake in shares of Eagle Point Income by 2.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 99,584 shares of the company’s stock worth $1,361,000 after purchasing an additional 2,754 shares during the period. Cetera Investment Advisers increased its holdings in shares of Eagle Point Income by 17.8% during 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 in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of Eagle Point Income in the 2nd quarter valued at $325,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research upgraded shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. B. Riley lowered their target price on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $14.00.

Eagle Point Income Price Performance

Eagle Point Income stock opened at $10.65 on Thursday. The company’s fifty day moving average price is $11.22 and its 200 day moving average price is $12.25. Eagle Point Income Company Inc. has a 1 year low of $10.40 and a 1 year high of $16.23.

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

Eagle Point Income Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 11th will be issued a $0.11 dividend. This represents a c) annualized dividend and a yield of 12.4%. The ex-dividend date is Wednesday, March 11th.

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.