Eagle Point Credit (NYSE:ECC) Reaches New 52-Week Low – Should You Sell?

Eagle Point Credit Company Inc. (NYSE:ECC) shares reached a new 52-week low on Monday . The company traded as low as $4.89 and last traded at $4.8650, with a volume of 231377 shares trading hands. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Credit Suisse Group set a $7.00 price objective on shares of Eagle Point Credit in a research report on Thursday, November 20th. Zacks Research upgraded Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, B. Riley Financial dropped their price objective on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.46.

Eagle Point Credit Price Performance

The business’s fifty day simple moving average is $5.74 and its 200 day simple moving average is $6.29. The stock has a market cap of $615.86 million, a price-to-earnings ratio of 25.66 and a beta of 0.28.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.14 per share. This represents a c) dividend on an annualized basis and a dividend yield of 34.5%. The ex-dividend date is Wednesday, March 11th. Eagle Point Credit’s dividend payout ratio is presently 884.21%.

Institutional Investors Weigh In On Eagle Point Credit

Large investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC bought a new stake in Eagle Point Credit during the second quarter worth approximately $25,000. IFP Advisors Inc bought a new stake in shares of Eagle Point Credit in the 2nd quarter worth $28,000. N.E.W. Advisory Services LLC lifted its holdings in shares of Eagle Point Credit by 100.0% in the fourth 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. Ameriflex Group Inc. bought a new position in Eagle Point Credit during the third quarter valued at about $33,000. Finally, Geneos Wealth Management Inc. acquired a new position in Eagle Point Credit during the second quarter worth about $33,000. 19.50% of the stock is owned by institutional investors and hedge funds.

About Eagle Point Credit

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.