Chicago Partners Investment Group LLC Has $400,000 Holdings in Eagle Point Credit Company Inc. $ECC

Chicago Partners Investment Group LLC decreased its position in Eagle Point Credit Company Inc. (NYSE:ECC) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 56,012 shares of the investment management company’s stock after selling 2,140 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Eagle Point Credit were worth $400,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Eagle Point Credit in the 2nd quarter worth about $2,306,000. Harbour Investments Inc. purchased a new position in shares of Eagle Point Credit in the 2nd quarter worth approximately $154,000. MGO One Seven LLC grew its holdings in shares of Eagle Point Credit by 9.2% in the second quarter. MGO One Seven LLC now owns 28,357 shares of the investment management company’s stock valued at $217,000 after acquiring an additional 2,382 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Eagle Point Credit by 116.0% in the second quarter. Apollon Wealth Management LLC now owns 41,825 shares of the investment management company’s stock valued at $320,000 after acquiring an additional 22,465 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Eagle Point Credit during the second quarter valued at approximately $28,000. 19.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ECC. Zacks Research raised Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. LADENBURG THALM/SH SH upgraded Eagle Point Credit to a “strong-buy” rating in a research note on Wednesday, August 13th. Industrial Alliance Securities set a $7.75 price target on shares of Eagle Point Credit in a research report on Thursday, September 18th. Craig Hallum initiated coverage on shares of Eagle Point Credit in a research report on Thursday, September 18th. They issued a “buy” rating and a $7.75 price objective on the stock. Finally, Alliance Global Partners assumed coverage on shares of Eagle Point Credit in a research report on Thursday, September 18th. They issued a “buy” rating and a $7.75 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.21.

Eagle Point Credit Stock Up 2.3%

ECC stock opened at $6.11 on Friday. The stock has a fifty day moving average of $6.83 and a 200-day moving average of $7.26. Eagle Point Credit Company Inc. has a fifty-two week low of $5.80 and a fifty-two week high of $9.80. The company has a market capitalization of $469.78 million, a price-to-earnings ratio of 55.51 and a beta of 0.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23.

Eagle Point Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 10th will be paid a $0.14 dividend. The ex-dividend date is Monday, November 10th. This represents a c) annualized dividend and a dividend yield of 27.5%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 1,527.27%.

Eagle Point Credit Profile

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.