Penserra Capital Management LLC Buys Shares of 739,945 Eagle Point Income Company Inc. $EIC

Penserra Capital Management LLC bought a new position in Eagle Point Income Company Inc. (NYSE:EIC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 739,945 shares of the company’s stock, valued at approximately $9,959,000.

A number of other institutional investors have also modified their holdings of the company. Friedenthal Financial bought a new position in shares of Eagle Point Income during the 2nd quarter worth approximately $79,000. Astoria Portfolio Advisors LLC. acquired a new position in shares of Eagle Point Income during the third quarter worth $131,000. Cetera Investment Advisers lifted its holdings in shares of Eagle Point Income by 17.8% during the 2nd quarter. Cetera Investment Advisers now owns 14,369 shares of the company’s stock valued at $196,000 after purchasing an additional 2,170 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Eagle Point Income during the 2nd quarter valued at $325,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Eagle Point Income by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 99,584 shares of the company’s stock worth $1,361,000 after purchasing an additional 2,754 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on EIC. B. Riley reduced their target price on Eagle Point Income from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Zacks Research upgraded Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.00.

Eagle Point Income Trading Up 0.6%

Eagle Point Income stock opened at $10.65 on Thursday. The business’s 50-day simple moving average is $11.22 and its two-hundred day simple moving average is $12.25. Eagle Point Income Company Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $16.23.

Eagle Point Income (NYSE:EIC) last released its earnings results on Thursday, November 13th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03.

Eagle Point Income Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 11th will be issued a dividend of $0.11 per share. This represents a c) annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend is Wednesday, March 11th.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.