Arlington Capital Management Inc. Makes New Investment in Eagle Point Credit Company Inc. (NYSE:ECC)

Arlington Capital Management Inc. purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 53,258 shares of the investment management company’s stock, valued at approximately $506,000. Arlington Capital Management Inc. owned 0.10% of Eagle Point Credit at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Private Advisor Group LLC grew its holdings in Eagle Point Credit by 7.7% in the 4th quarter. Private Advisor Group LLC now owns 74,538 shares of the investment management company’s stock worth $708,000 after buying an additional 5,355 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Eagle Point Credit by 10.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 68,986 shares of the investment management company’s stock worth $655,000 after buying an additional 6,700 shares in the last quarter. Parisi Gray Wealth Management boosted its holdings in shares of Eagle Point Credit by 71.4% in the fourth quarter. Parisi Gray Wealth Management now owns 60,000 shares of the investment management company’s stock valued at $570,000 after acquiring an additional 25,000 shares in the last quarter. Raymond James & Associates increased its stake in shares of Eagle Point Credit by 16.4% during the fourth quarter. Raymond James & Associates now owns 72,122 shares of the investment management company’s stock valued at $685,000 after acquiring an additional 10,150 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Eagle Point Credit by 37.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 90,495 shares of the investment management company’s stock worth $919,000 after purchasing an additional 24,717 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC remained flat at $10.29 during trading hours on Thursday. 427,141 shares of the stock traded hands, compared to its average volume of 690,800. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.60 and a current ratio of 6.60. The company’s 50 day simple moving average is $10.08 and its two-hundred day simple moving average is $9.82. Eagle Point Credit Company Inc. has a one year low of $8.60 and a one year high of $11.50. The stock has a market cap of $791.79 million, a P/E ratio of 5.78 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings results on Thursday, February 22nd. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The business had revenue of $39.39 million during the quarter, compared to analyst estimates of $39.10 million. Eagle Point Credit had a return on equity of 14.27% and a net margin of 84.05%. During the same quarter last year, the firm posted $0.29 EPS. On average, analysts anticipate that Eagle Point Credit Company Inc. will post 1.39 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be paid a $0.14 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.68 dividend on an annualized basis and a yield of 16.33%. Eagle Point Credit’s dividend payout ratio is currently 94.38%.

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.