Eagle Point Income (NYSE:EIC) Upgraded at B. Riley

Eagle Point Income (NYSE:EIC) was upgraded by analysts at B. Riley to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Eagle Point Income Stock Up 1.1 %

NYSE EIC opened at $16.25 on Tuesday. Eagle Point Income has a 12-month low of $14.78 and a 12-month high of $16.75. The company has a fifty day simple moving average of $15.74 and a two-hundred day simple moving average of $15.78.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EIC. Graypoint LLC raised its position in shares of Eagle Point Income by 4.0% in the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock valued at $2,665,000 after buying an additional 6,325 shares during the last quarter. Virtu Financial LLC acquired a new position in Eagle Point Income in the third quarter valued at approximately $216,000. Main Street Financial Solutions LLC purchased a new position in shares of Eagle Point Income during the 2nd quarter worth $160,000. Finally, Webster Bank N. A. acquired a new stake in shares of Eagle Point Income during the third quarter valued at about $44,000.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.