J.W. Cole Advisors Inc. Purchases 52,782 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

J.W. Cole Advisors Inc. boosted its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 92.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 109,774 shares of the investment management company’s stock after buying an additional 52,782 shares during the period. J.W. Cole Advisors Inc. owned approximately 0.14% of Eagle Point Credit worth $1,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ECC. PFG Investments LLC increased its holdings in shares of Eagle Point Credit by 115.8% in the 2nd quarter. PFG Investments LLC now owns 387,398 shares of the investment management company’s stock worth $3,893,000 after buying an additional 207,875 shares during the last quarter. TrueMark Investments LLC bought a new position in Eagle Point Credit in the second quarter valued at $1,444,000. Wedbush Securities Inc. increased its stake in Eagle Point Credit by 26.2% in the second quarter. Wedbush Securities Inc. now owns 438,276 shares of the investment management company’s stock valued at $4,405,000 after acquiring an additional 91,058 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Eagle Point Credit during the third quarter valued at about $7,600,000. Finally, Main Street Financial Solutions LLC lifted its stake in Eagle Point Credit by 95.6% during the second quarter. Main Street Financial Solutions LLC now owns 147,447 shares of the investment management company’s stock worth $1,482,000 after purchasing an additional 72,067 shares during the last quarter. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Point Credit Price Performance

Shares of Eagle Point Credit stock opened at $9.55 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 2.98. Eagle Point Credit Company Inc. has a 52-week low of $8.75 and a 52-week high of $10.49. The company has a fifty day moving average of $9.82 and a 200-day moving average of $9.98. The stock has a market capitalization of $734.47 million, a price-to-earnings ratio of 5.13 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings results on Tuesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $42.28 million for the quarter, compared to analysts’ expectations of $45.67 million. Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. Equities research analysts expect that Eagle Point Credit Company Inc. will post 1.11 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.68 annualized dividend and a yield of 17.60%. Eagle Point Credit’s payout ratio is currently 90.32%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th.

About Eagle Point Credit

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.