B. Riley Financial Lowers Eagle Point Income (NYSE:EIC) Price Target to $11.25

Eagle Point Income (NYSE:EIC) had its price target cut by B. Riley Financial from $14.00 to $11.25 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price target points to a potential upside of 18.61% from the company’s current price.

A number of other equities research analysts have also issued reports on EIC. Zacks Research lowered Eagle Point Income from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Eagle Point Income in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Eagle Point Income has a consensus rating of “Hold” and a consensus target price of $11.25.

Eagle Point Income Stock Performance

Eagle Point Income stock traded down $0.06 during midday trading on Monday, reaching $9.49. The stock had a trading volume of 68,185 shares, compared to its average volume of 214,487. Eagle Point Income has a 52-week low of $9.30 and a 52-week high of $15.33. The company has a fifty day moving average of $10.49 and a 200 day moving average of $11.67.

Eagle Point Income (NYSE:EIC) last announced its earnings results on Thursday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $14.70 million.

Institutional Investors Weigh In On Eagle Point Income

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in Eagle Point Income by 63.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Eagle Point Income by 38.5% during the fourth quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock valued at $41,000 after buying an additional 1,000 shares during the last quarter. N.E.W. Advisory Services LLC lifted its position in shares of Eagle Point Income by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock valued at $46,000 after buying an additional 2,000 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Eagle Point Income in the 3rd quarter valued at about $89,000. Finally, Evolve Private Wealth LLC bought a new stake in shares of Eagle Point Income in the 4th quarter valued at about $122,000.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.