J.W. Cole Advisors Inc. Has $2.26 Million Stock Position in Eagle Point Credit Company Inc. $ECC

J.W. Cole Advisors Inc. boosted its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 294,869 shares of the investment management company’s stock after purchasing an additional 28,354 shares during the period. J.W. Cole Advisors Inc.’s holdings in Eagle Point Credit were worth $2,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ECC. GPS Wealth Strategies Group LLC acquired a new position in shares of Eagle Point Credit during the 2nd quarter worth $25,000. IFP Advisors Inc acquired a new stake in Eagle Point Credit in the second quarter valued at about $28,000. Cape Investment Advisory Inc. grew its position 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 valued at $29,000 after acquiring an additional 1,713 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Eagle Point Credit during the first quarter worth about $35,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Eagle Point Credit in the second quarter worth about $35,000. Institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ECC. Credit Suisse Group set a $7.00 price target on shares of Eagle Point Credit in a report on Thursday, November 20th. Industrial Alliance Securities set a $7.75 target price on shares of Eagle Point Credit in a research note on Thursday, September 18th. Craig Hallum assumed coverage on shares of Eagle Point Credit in a report on Thursday, September 18th. They set a “buy” rating and a $7.75 price target for the company. LADENBURG THALM/SH SH raised Eagle Point Credit to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, B. Riley lowered their target price on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.46.

Eagle Point Credit Price Performance

ECC stock opened at $6.18 on Friday. The company has a market capitalization of $780.09 million, a P/E ratio of 32.50 and a beta of 0.37. The company has a fifty day moving average price of $6.26 and a 200-day moving average price of $6.97. 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 Company Inc. has a 52-week low of $5.44 and a 52-week high of $9.53.

Eagle Point Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a c) annualized dividend and a yield of 27.2%. Eagle Point Credit’s payout ratio is presently 884.21%.

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.