Eagle Point Credit (NYSE:ECC) Sets New 1-Year Low – Time to Sell?

Eagle Point Credit Company Inc. (NYSE:ECC) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $8.02 and last traded at $8.05, with a volume of 1835794 shares trading hands. The stock had previously closed at $8.24.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Eagle Point Credit Stock Down 1.7 %

The firm’s 50 day simple moving average is $8.71 and its 200-day simple moving average is $9.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The company has a market cap of $599.81 million, a price-to-earnings ratio of 9.31 and a beta of 0.73.

Eagle Point Credit (NYSE:ECC) last announced its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The firm had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. As a group, sell-side analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

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

Institutional Trading of Eagle Point Credit

A number of large investors have recently bought and sold shares of the business. Union Bancaire Privee UBP SA purchased a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Eagle Point Credit during the third quarter worth approximately $39,000. Transce3nd LLC purchased a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $45,000. McIlrath & Eck LLC purchased a new position in Eagle Point Credit in the third quarter valued at about $57,000. Finally, Ameriflex Group Inc. purchased a new stake in Eagle Point Credit during the fourth quarter worth $70,000. 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.