Whipplewood Advisors LLC Invests $2.20 Million in Eagle Point Income Company Inc. $EIC

Whipplewood Advisors LLC purchased a new position in shares of Eagle Point Income Company Inc. (NYSE:EIC) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 160,870 shares of the company’s stock, valued at approximately $2,199,000. Eagle Point Income accounts for 1.2% of Whipplewood Advisors LLC’s investment portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in shares of Eagle Point Income during the 1st quarter worth $30,000. AdvisorNet Financial Inc grew its stake in shares of Eagle Point Income by 97.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,322 shares of the company’s stock worth $45,000 after purchasing an additional 1,639 shares during the period. Friedenthal Financial acquired a new position in shares of Eagle Point Income during the 2nd quarter worth $79,000. Wedbush Securities Inc. acquired a new position in shares of Eagle Point Income during the 1st quarter worth $166,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Eagle Point Income during the 1st quarter worth $170,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EIC shares. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a research note on Wednesday, August 13th. Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Eagle Point Income has an average rating of “Buy”.

Eagle Point Income Price Performance

Shares of NYSE EIC opened at $12.69 on Friday. Eagle Point Income Company Inc. has a 52 week low of $12.10 and a 52 week high of $16.71. The company’s 50-day moving average price is $13.14 and its 200 day moving average price is $13.43.

Eagle Point Income (NYSE:EIC) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $15.27 million for the quarter, compared to analysts’ expectations of $14.40 million.

Eagle Point Income Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 10th will be issued a $0.13 dividend. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Monday, November 10th.

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.