Eagle Point Credit (NYSE:ECC) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Eagle Point Credit Company Inc. (NYSE:ECC) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.81 and traded as low as $3.66. Eagle Point Credit shares last traded at $3.6850, with a volume of 547,348 shares trading hands.

Eagle Point Credit Stock Up 0.1%

The firm has a fifty day simple moving average of $3.80 and a 200-day simple moving average of $3.88. The company has a market capitalization of $483.23 million, a PE ratio of 5.99 and a beta of 0.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.54 and a current ratio of 0.54.

Eagle Point Credit (NYSE:ECC) last released its earnings results on Thursday, August 13th. The investment management company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $41.62 million. Eagle Point Credit had a negative net margin of 84.29% and a negative return on equity of 1.83%. Equities research analysts anticipate that Eagle Point Credit Company Inc. will post 0.68 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 19.7%. The ex-dividend date is Friday, December 11th. Eagle Point Credit’s dividend payout ratio is 196.72%.

Institutional Investors Weigh In On Eagle Point Credit

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Wealth Managment LLC ID lifted its position in shares of Eagle Point Credit by 2.2% during the first quarter. Legacy Wealth Managment LLC ID now owns 575,559 shares of the investment management company’s stock worth $2,164,000 after purchasing an additional 12,253 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in Eagle Point Credit by 4.1% in the fourth quarter. J.W. Cole Advisors Inc. now owns 319,506 shares of the investment management company’s stock valued at $1,839,000 after buying an additional 12,697 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Eagle Point Credit by 268.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 247,357 shares of the investment management company’s stock valued at $1,425,000 after buying an additional 180,305 shares in the last quarter. Cetera Investment Advisers raised its stake in Eagle Point Credit by 21.4% during the first quarter. Cetera Investment Advisers now owns 142,565 shares of the investment management company’s stock valued at $536,000 after buying an additional 25,155 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in Eagle Point Credit during the first quarter valued at approximately $270,000. Institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc (NYSE: ECC) is a closed-end management investment company focused primarily on investing in collateralized loan obligations (CLOs). Its portfolio generally includes CLO equity and debt tranches backed mainly by portfolios of senior-secured corporate loans. Through these investments, the company seeks to generate current income and, secondarily, capital appreciation.

Eagle Point Credit invests across the capital structures of CLO transactions, with an emphasis on securities that may provide exposure to diversified pools of corporate borrowers.