Private Advisor Group LLC Has $855,000 Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Private Advisor Group LLC grew its holdings in Eagle Point Credit Company Inc. (NYSE:ECC) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,103 shares of the investment management company’s stock after purchasing an additional 4,040 shares during the quarter. Private Advisor Group LLC owned about 0.11% of Eagle Point Credit worth $855,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in Eagle Point Credit during the fourth quarter worth about $1,192,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Eagle Point Credit by 5.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 96,127 shares of the investment management company’s stock worth $913,000 after buying an additional 4,881 shares in the last quarter. Financial Advocates Investment Management grew its position in Eagle Point Credit by 13.0% during the second quarter. Financial Advocates Investment Management now owns 43,961 shares of the investment management company’s stock worth $442,000 after buying an additional 5,048 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Eagle Point Credit by 11.1% during the second quarter. Commonwealth Equity Services LLC now owns 119,238 shares of the investment management company’s stock worth $1,198,000 after buying an additional 11,925 shares in the last quarter. Finally, CFO4Life Group LLC acquired a new stake in Eagle Point Credit during the first quarter worth about $105,000. 19.50% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

Shares of ECC opened at $9.81 on Tuesday. The stock has a market cap of $754.49 million, a price-to-earnings ratio of 5.27 and a beta of 0.76. 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 12 month low of $8.60 and a 12 month high of $10.49. The company has a 50-day moving average price of $9.92 and a two-hundred day moving average price of $10.05.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Tuesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $42.28 million during the quarter, compared to the consensus estimate of $45.67 million. Equities analysts predict that Eagle Point Credit Company Inc. will post 1.28 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.13%. The ex-dividend date of this dividend is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 90.32%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their target price on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th.

Eagle Point Credit 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.