Naviter Wealth LLC Sells 1,750 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

by · The Cerbat Gem

Naviter Wealth LLC lessened its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC – Free Report) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,500 shares of the investment management company’s stock after selling 1,750 shares during the period. Naviter Wealth LLC’s holdings in Eagle Point Credit were worth $163,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Oxinas Partners Wealth Management LLC lifted its holdings in shares of Eagle Point Credit by 44.0% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock valued at $1,750,000 after purchasing an additional 54,240 shares in the last quarter. Webster Bank N. A. bought a new position in shares of Eagle Point Credit during the 3rd quarter valued at about $28,000. Worth Asset Management LLC lifted its holdings in shares of Eagle Point Credit by 359.7% during the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock valued at $647,000 after purchasing an additional 51,367 shares in the last quarter. Sage Capital Advisors llc lifted its holdings in shares of Eagle Point Credit by 6.5% during the 3rd quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock valued at $482,000 after purchasing an additional 2,986 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Eagle Point Credit by 32.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 14,273 shares of the investment management company’s stock valued at $141,000 after purchasing an additional 3,491 shares in the last quarter. Institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their target price on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th.

View Our Latest Stock Report on Eagle Point Credit

Eagle Point Credit Stock Performance

NYSE ECC opened at $9.70 on Friday. The stock has a market capitalization of $746.40 million, a price-to-earnings ratio of 5.22 and a beta of 0.76. The stock’s 50 day moving average price is $9.85 and its two-hundred day moving average price is $10.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 2.98. Eagle Point Credit Company Inc. has a 52 week low of $8.60 and a 52 week high of $10.49.

Eagle Point Credit (NYSE:ECC – Get Free Report) last released its earnings results on Tuesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The firm had revenue of $42.28 million during the quarter, compared to the consensus estimate of $45.67 million. Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. As a group, analysts anticipate that Eagle Point Credit Company Inc. will post 1.11 earnings per share for the current fiscal year.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.32%. The ex-dividend date of this dividend is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio is currently 90.32%.

About Eagle Point Credit

(Free Report)

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.

See Also