Eagle Point Credit Company Inc. (NYSE:ECC) CEO Thomas P. Majewski Buys 1,087 Shares of Stock

Eagle Point Credit Company Inc. (NYSE:ECC) CEO Thomas P. Majewski acquired 1,087 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the transaction, the chief executive officer now owns 1,087 shares of the company’s stock, valued at $25,001. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eagle Point Credit Price Performance

NYSE ECC opened at $7.92 on Friday. Eagle Point Credit Company Inc. has a 12-month low of $7.36 and a 12-month high of $10.49. The firm’s fifty day simple moving average is $8.64 and its two-hundred day simple moving average is $9.16. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $609.04 million, a P/E ratio of 9.42 and a beta of 0.73.

Eagle Point Credit (NYSE:ECC) last announced its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The business had revenue of $49.55 million for the quarter, compared to analyst estimates of $49.76 million. Analysts forecast that Eagle Point Credit Company Inc. will post 1.1 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.14 dividend. The ex-dividend date is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ECC. B. Riley Wealth Advisors Inc. grew its holdings in shares of Eagle Point Credit by 16.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 17,061 shares of the investment management company’s stock valued at $152,000 after buying an additional 2,463 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Eagle Point Credit during the 4th quarter worth about $70,000. Cresset Asset Management LLC grew its stake in Eagle Point Credit by 89.4% during the 4th quarter. Cresset Asset Management LLC now owns 57,177 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 26,990 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Eagle Point Credit by 53.5% in the fourth quarter. Cetera Investment Advisers now owns 28,109 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 9,796 shares during the period. Finally, Lido Advisors LLC purchased a new position in shares of Eagle Point Credit in the fourth quarter worth about $162,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley decreased their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.