Eagle Point Credit Company Inc. (NYSE:ECC) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC boosted its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 5.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 23,158 shares of the investment management company’s stock after acquiring an additional 1,173 shares during the quarter. Ballentine Partners LLC’s holdings in Eagle Point Credit were worth $228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Eagle Point Credit during the 3rd quarter valued at about $7,600,000. Oxinas Partners Wealth Management LLC raised its stake in shares of Eagle Point Credit by 44.0% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock valued at $1,750,000 after buying an additional 54,240 shares during the last quarter. Webster Bank N. A. purchased a new position in shares of Eagle Point Credit during the 3rd quarter valued at about $28,000. Worth Asset Management LLC raised its stake in shares of Eagle Point Credit by 359.7% during the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock valued at $647,000 after buying an additional 51,367 shares during the last quarter. Finally, Sage Capital Advisors llc raised its stake in shares of Eagle Point Credit by 6.5% during the 3rd quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock valued at $482,000 after buying an additional 2,986 shares during the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Price Performance

Shares of Eagle Point Credit stock opened at $9.55 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.19. Eagle Point Credit Company Inc. has a twelve month low of $8.75 and a twelve month high of $10.49. The business has a 50-day moving average price of $9.82 and a 200 day moving average price of $9.98. The firm has a market cap of $734.47 million, a PE ratio of 5.13 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Tuesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.08). Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. The business had revenue of $42.28 million during the quarter, compared to analysts’ expectations of $45.67 million. Sell-side analysts predict that Eagle Point Credit Company Inc. will post 1.11 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 Tuesday, December 31st. Investors of record on Wednesday, December 11th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.68 annualized dividend and a dividend yield of 17.60%. Eagle Point Credit’s dividend payout ratio is presently 90.32%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price objective on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th.

About Eagle Point Credit

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.