655,629 Eagle Point Credit Company Inc. $ECC Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its position in Eagle Point Credit Company Inc. (NYSE:ECC) by 68.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the investment management company’s stock after selling 655,629 shares during the quarter. International Assets Investment Management LLC’s holdings in Eagle Point Credit were worth $1,038,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Legacy Wealth Managment LLC ID increased its holdings in Eagle Point Credit by 2.2% in the first quarter. Legacy Wealth Managment LLC ID now owns 575,559 shares of the investment management company’s stock valued at $2,164,000 after buying an additional 12,253 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Eagle Point Credit by 21.4% during the 1st quarter. Cetera Investment Advisers now owns 142,565 shares of the investment management company’s stock worth $536,000 after buying an additional 25,155 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Eagle Point Credit by 3,944.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 56,624 shares of the investment management company’s stock worth $213,000 after buying an additional 55,224 shares during the last quarter. Attessa Capital LLC purchased a new stake in Eagle Point Credit during the 2nd quarter worth about $135,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Eagle Point Credit during the 2nd quarter worth about $117,000. 19.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Credit Suisse Group set a $3.25 price objective on Eagle Point Credit in a report on Thursday, October 15th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.75.

Eagle Point Credit Trading Down 0.2%

Shares of Eagle Point Credit stock opened at $2.62 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $3.31 and a 200-day simple moving average of $3.89. The stock has a market cap of $347.05 million, a price-to-earnings ratio of 4.30 and a beta of 0.40. Eagle Point Credit Company Inc. has a 12-month low of $2.55 and a 12-month high of $6.45.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Thursday, August 13th. The investment management company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Eagle Point Credit had a negative return on equity of 1.83% and a negative net margin of 84.29%. The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $41.62 million. On average, equities analysts forecast that Eagle Point Credit Company Inc. will post 0.68 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.72 annualized dividend and a dividend yield of 27.4%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 170.49%.

Eagle Point Credit Profile

Eagle Point Credit Company Inc (NYSE: ECC) is a closed-end management investment company focused on investments in collateralized loan obligations (CLOs). The company seeks to generate current income and, to a lesser extent, capital appreciation through exposure to CLO equity and junior debt securities.

CLOs are structured finance vehicles that generally hold portfolios of senior secured corporate loans. Eagle Point Credit may invest across different layers of the CLO capital structure, including subordinated securities, preferred equity and other related investments.