Eagle Point Credit Company Inc. $ECC Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 201.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,278,195 shares of the investment management company’s stock after purchasing an additional 854,625 shares during the period. International Assets Investment Management LLC’s holdings in Eagle Point Credit were worth $7,362,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in Eagle Point Credit in the 2nd quarter valued at approximately $33,000. Ameriflex Group Inc. acquired a new stake in Eagle Point Credit in the 3rd quarter valued at approximately $33,000. N.E.W. Advisory Services LLC boosted its position in Eagle Point Credit by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock valued at $31,000 after buying an additional 2,650 shares during the period. Spire Wealth Management purchased a new position in Eagle Point Credit in the 3rd quarter valued at approximately $37,000. Finally, Tower Research Capital LLC TRC purchased a new position in Eagle Point Credit in the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Wall Street Analysts Forecast Growth

ECC has been the subject of several recent research reports. 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. B. Riley Financial decreased their price target on shares of 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 reissued a “buy” rating on shares of Eagle Point Credit in a research report on Wednesday, April 15th. Credit Suisse Group set a $5.00 price objective on shares of Eagle Point Credit in a research report on Wednesday, February 18th. Finally, LADENBURG THALM/SH SH cut shares of Eagle Point Credit from a “buy” rating to a “neutral” rating in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Insider Activity

In other news, Portfolio Manager Daniel W. Ko acquired 57,165 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $3.50 per share, with a total value of $200,077.50. Following the transaction, the portfolio manager owned 82,665 shares in the company, valued at approximately $289,327.50. This trade represents a 224.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Eagle Point Credit Trading Up 0.9%

Eagle Point Credit stock opened at $4.26 on Friday. The stock has a market cap of $563.08 million, a P/E ratio of 22.42 and a beta of 0.35. The company has a fifty day simple moving average of $3.92 and a 200-day simple moving average of $5.04. Eagle Point Credit Company Inc. has a 12-month low of $3.46 and a 12-month high of $8.05.

Eagle Point Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 16.9%. The ex-dividend date of this dividend is Wednesday, June 10th. Eagle Point Credit’s payout ratio is 873.68%.

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.