Eagle Point Credit Company Inc. (NYSE:ECC) Shares Sold by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC cut its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 28.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,213 shares of the investment management company’s stock after selling 95,587 shares during the period. Cadent Capital Advisors LLC’s holdings in Eagle Point Credit were worth $1,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC raised its holdings in shares of Eagle Point Credit by 20,306.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 847,871 shares of the investment management company’s stock valued at $7,580,000 after purchasing an additional 843,716 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Eagle Point Credit by 17.0% in the fourth quarter. Wedbush Securities Inc. now owns 567,610 shares of the investment management company’s stock valued at $5,040,000 after buying an additional 82,367 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Eagle Point Credit by 48.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 246,876 shares of the investment management company’s stock valued at $2,192,000 after buying an additional 80,616 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Eagle Point Credit in the fourth quarter valued at $2,038,000. Finally, Freestone Capital Holdings LLC lifted its holdings in Eagle Point Credit by 26.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 222,083 shares of the investment management company’s stock worth $1,972,000 after buying an additional 46,006 shares during the last quarter. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eagle Point Credit news, CEO Thomas P. Majewski bought 1,087 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average cost of $23.00 per share, with a total value of $25,001.00. Following the acquisition, the chief executive officer now directly owns 1,087 shares of the company’s stock, valued at $25,001. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Eagle Point Credit Trading Down 0.1%

NYSE ECC opened at $7.52 on Wednesday. The firm’s fifty day moving average price is $7.68 and its 200 day moving average price is $8.31. Eagle Point Credit Company Inc. has a 12 month low of $6.54 and a 12 month high of $10.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $578.28 million, a price-to-earnings ratio of -18.79 and a beta of 0.42.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings data on Wednesday, May 28th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $52.30 million during the quarter, compared to the consensus estimate of $53.54 million. Eagle Point Credit had a negative net margin of 27.15% and a positive return on equity of 12.90%. On average, sell-side analysts expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 22.36%. Eagle Point Credit’s dividend payout ratio (DPR) is presently -420.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Eagle Point Credit from $9.00 to $7.50 and set a “market perform” rating for the company in a research report on Thursday, May 29th. Credit Suisse Group set a $7.50 price target on Eagle Point Credit in a report on Thursday, May 29th.

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.