Thomas P. Majewski Buys 1,087 Shares of Eagle Point Credit Company Inc. (NYSE:ECC) Stock

Eagle Point Credit Company Inc. (NYSE:ECC) CEO Thomas P. Majewski acquired 1,087 shares of the company’s stock in a transaction on Friday, March 21st. The stock was bought at an average cost of $23.00 per share, with a total value of $25,001.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,087 shares in the company, valued at approximately $25,001. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Eagle Point Credit Price Performance

Shares of NYSE ECC traded up $0.03 during trading hours on Friday, hitting $7.92. 769,395 shares of the stock were exchanged, compared to its average volume of 1,012,276. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market cap of $609.04 million, a PE ratio of 9.42 and a beta of 0.73. The company’s fifty day simple moving average is $8.66 and its two-hundred day simple moving average is $9.17. Eagle Point Credit Company Inc. has a 1-year low of $7.36 and a 1-year high of $10.49.

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

Eagle Point Credit Announces Dividend

The company also recently declared 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 dividend payout ratio is 200.00%.

Institutional Trading of Eagle Point Credit

Large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in Eagle Point Credit by 2.8% in the third quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after buying an additional 2,112 shares in the last quarter. Stifel Financial Corp acquired a new stake in Eagle Point Credit in the third quarter valued at approximately $149,000. Legacy Investment Solutions LLC acquired a new stake in Eagle Point Credit in the third quarter valued at approximately $39,000. McIlrath & Eck LLC acquired a new stake in Eagle Point Credit in the third quarter valued at approximately $57,000. Finally, Janney Montgomery Scott LLC boosted its position in 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 valued at $447,000 after buying an additional 13,067 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price target on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research note 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.