Eagle Point Credit (NYSE:ECC) Reaches New 12-Month Low – Time to Sell?

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) reached a new 52-week low during trading on Monday . The stock traded as low as $5.77 and last traded at $5.7950, with a volume of 1316617 shares trading hands. The stock had previously closed at $5.84.

Wall Street Analyst Weigh In

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

Eagle Point Credit Price Performance

The firm has a market capitalization of $721.98 million, a P/E ratio of 30.13 and a beta of 0.37. The stock’s 50 day simple moving average is $6.48 and its 200 day simple moving average is $7.10. 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 (NYSE:ECC) last posted its quarterly earnings results on Thursday, November 13th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $52.00 million for the quarter, compared to the consensus estimate of $50.86 million. Eagle Point Credit had a return on equity of 13.53% and a net margin of 12.33%. As a group, analysts expect 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 declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, March 11th. This represents a c) annualized dividend and a dividend yield of 29.4%. Eagle Point Credit’s payout ratio is currently 884.21%.

Institutional Trading of Eagle Point Credit

Several hedge funds and other institutional investors have recently bought and sold shares of ECC. GPS Wealth Strategies Group LLC bought a new position in shares of Eagle Point Credit in the 2nd quarter worth $25,000. Cape Investment Advisory Inc. grew its holdings in Eagle Point Credit by 91.2% in the first quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company’s stock worth $29,000 after purchasing an additional 1,713 shares during the last quarter. IFP Advisors Inc acquired a new position in shares of Eagle Point Credit during the second quarter worth $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Eagle Point Credit during the 2nd quarter valued at $33,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Eagle Point Credit in the 1st quarter worth $35,000. Institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Company 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.