17,600 Shares in Eagle Point Credit Company Inc. (NYSE:ECC) Purchased by TT Capital Management LLC

TT Capital Management LLC acquired a new stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 17,600 shares of the investment management company’s stock, valued at approximately $156,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in shares of Eagle Point Credit by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company’s stock valued at $921,000 after buying an additional 1,666 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Eagle Point Credit during the 4th quarter valued at $27,000. Kestra Private Wealth Services LLC lifted its position in shares of Eagle Point Credit by 4.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 76,425 shares of the investment management company’s stock worth $679,000 after acquiring an additional 3,464 shares in the last quarter. CFO4Life Group LLC boosted its holdings in shares of Eagle Point Credit by 29.9% in the fourth quarter. CFO4Life Group LLC now owns 23,475 shares of the investment management company’s stock worth $208,000 after acquiring an additional 5,400 shares during the period. Finally, McIlrath & Eck LLC purchased a new position in shares of Eagle Point Credit in the third quarter valued at $57,000. Institutional investors own 19.50% of the company’s stock.

Insider Activity at Eagle Point Credit

In related news, CEO Thomas P. Majewski purchased 1,087 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $23.00 per share, with a total value of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares in the company, valued at approximately $25,001. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th.

Eagle Point Credit Stock Down 2.7 %

Shares of NYSE:ECC opened at $7.08 on Friday. The firm has a fifty day moving average price of $8.28 and a two-hundred day moving average price of $8.91. The company has a market cap of $544.87 million, a price-to-earnings ratio of 8.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit Company Inc. has a one year low of $6.54 and a one year high of $10.49.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings data 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). The business had revenue of $49.55 million for the quarter, compared to the consensus estimate of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. Analysts anticipate 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 disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio (DPR) is 200.00%.

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.