Summitry LLC Buys Shares of 12,000 Eagle Point Credit Company Inc. (NYSE:ECC)

Summitry LLC purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,000 shares of the investment management company’s stock, valued at approximately $107,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ECC. Rockefeller Capital Management L.P. lifted its holdings in shares of Eagle Point Credit by 2.8% during the third quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock worth $763,000 after purchasing an additional 2,112 shares during the period. Stifel Financial Corp acquired a new position in Eagle Point Credit during the 3rd quarter worth about $149,000. Legacy Investment Solutions LLC bought a new stake in shares of Eagle Point Credit in the 3rd quarter valued at about $39,000. McIlrath & Eck LLC acquired a new stake in shares of Eagle Point Credit in the third quarter valued at about $57,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Eagle Point Credit by 35.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company’s stock worth $447,000 after acquiring an additional 13,067 shares during the period. Institutional investors and hedge funds own 19.50% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas P. Majewski acquired 1,087 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the completion of the acquisition, the chief executive officer now owns 1,087 shares of the company’s stock, valued at approximately $25,001. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Eagle Point Credit Stock Performance

Shares of Eagle Point Credit stock opened at $8.03 on Thursday. The business has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $9.11. Eagle Point Credit Company Inc. has a 1-year low of $7.36 and a 1-year high of $10.49. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The company has a market cap of $617.51 million, a P/E ratio of 9.55 and a beta of 0.73.

Eagle Point Credit (NYSE:ECC) last released its earnings results on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The business had revenue of $49.55 million for the quarter, compared to analyst estimates of $49.76 million. As a group, analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit’s payout ratio is presently 200.00%.

Analyst Ratings Changes

Separately, B. Riley lowered their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th.

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.