EAGLE POINT Cr/COM (ECC) Receives $21.13 Average PT from Brokerages

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Shares of EAGLE POINT Cr/COM (NYSE:ECC) have received an average recommendation of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $21.13.

ECC has been the topic of several recent research reports. National Securities reissued a “buy” rating and set a $24.00 price objective on shares of EAGLE POINT Cr/COM in a report on Monday, February 26th. ValuEngine downgraded EAGLE POINT Cr/COM from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research downgraded EAGLE POINT Cr/COM from a “hold” rating to a “sell” rating in a report on Monday, February 26th.

In related news, insider Daniel M. Spinner bought 75,000 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was acquired at an average cost of $73,933.00 per share, with a total value of $5,544,975,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eagle Point Credit Management bought 1,357,589 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were bought at an average cost of $18.42 per share, with a total value of $25,006,789.38. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,482,589 shares of company stock valued at $8,044,981,789. 0.49% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Ares Management LLC bought a new position in EAGLE POINT Cr/COM during the 4th quarter worth $970,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of EAGLE POINT Cr/COM by 261.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,574 shares of the investment management company’s stock worth $255,000 after acquiring an additional 9,815 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of EAGLE POINT Cr/COM in the 4th quarter worth about $4,138,000. Oppenheimer & Co. Inc. bought a new position in shares of EAGLE POINT Cr/COM in the 1st quarter worth about $191,000. Finally, Wedbush Securities Inc. bought a new position in shares of EAGLE POINT Cr/COM in the 4th quarter worth about $330,000. 59.73% of the stock is owned by institutional investors and hedge funds.

Shares of EAGLE POINT Cr/COM remained flat at $$17.99 during mid-day trading on Friday, according to Marketbeat.com. The company had a trading volume of 38,950 shares, compared to its average volume of 79,155. EAGLE POINT Cr/COM has a 12 month low of $17.28 and a 12 month high of $21.60. The firm has a market cap of $338.19 million, a P/E ratio of 9.57 and a beta of 0.18.

EAGLE POINT Cr/COM (NYSE:ECC) last released its quarterly earnings data on Thursday, May 17th. The investment management company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. EAGLE POINT Cr/COM had a return on equity of 10.44% and a net margin of 58.09%. The company had revenue of $17.01 million for the quarter, compared to the consensus estimate of $17.80 million. equities analysts expect that EAGLE POINT Cr/COM will post 1.67 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Thursday, May 31st. Investors of record on Friday, May 11th were given a dividend of $0.20 per share. This represents a $2.40 annualized dividend and a yield of 13.34%. The ex-dividend date of this dividend was Thursday, May 10th. EAGLE POINT Cr/COM’s dividend payout ratio is currently 127.66%.

About EAGLE POINT Cr/COM

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.

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