Insider Buying: Eagle Point Credit Company Inc. (NYSE:ECC) CEO Acquires 1,087 Shares of Stock

Eagle Point Credit Company Inc. (NYSE:ECC) CEO Thomas P. Majewski purchased 1,087 shares of the stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the completion of the acquisition, the chief executive officer now owns 1,087 shares in the company, valued at $25,001. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Eagle Point Credit Trading Up 0.3 %

Shares of NYSE ECC opened at $7.92 on Friday. The business has a 50 day simple moving average of $8.64 and a 200 day simple moving average of $9.15. Eagle Point Credit Company Inc. has a 52 week low of $7.36 and a 52 week high of $10.49. The stock has a market cap of $609.04 million, a price-to-earnings ratio of 9.42 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $49.55 million during the quarter, compared to the consensus estimate of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. On average, research analysts predict that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.

Eagle Point Credit Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit’s payout ratio is 200.00%.

Analysts Set New Price Targets

Separately, B. Riley reduced their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Institutional Trading of Eagle Point Credit

A number of institutional investors and hedge funds have recently made changes to their positions in ECC. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eagle Point Credit by 16.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 17,061 shares of the investment management company’s stock valued at $152,000 after acquiring an additional 2,463 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Eagle Point Credit during the fourth quarter valued at approximately $70,000. Cresset Asset Management LLC raised its position in shares of Eagle Point Credit by 89.4% in the fourth quarter. Cresset Asset Management LLC now owns 57,177 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 26,990 shares during the period. Cetera Investment Advisers raised its position in shares of Eagle Point Credit by 53.5% in the fourth quarter. Cetera Investment Advisers now owns 28,109 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 9,796 shares during the period. Finally, Lido Advisors LLC acquired a new stake in shares of Eagle Point Credit in the fourth quarter worth $162,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

About Eagle Point Credit

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.