Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Down 14.3% in February

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 41,300 shares, a decline of 14.3% from the January 31st total of 48,200 shares. Based on an average daily trading volume, of 234,900 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EIC shares. B. Riley upgraded Eagle Point Income to a “strong-buy” rating in a research report on Tuesday, January 7th. LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a report on Thursday, January 16th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Graypoint LLC increased its position in Eagle Point Income by 4.0% during the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after purchasing an additional 6,325 shares during the last quarter. Principal Securities Inc. boosted its holdings in Eagle Point Income by 5.3% in the 4th quarter. Principal Securities Inc. now owns 85,869 shares of the company’s stock valued at $1,334,000 after purchasing an additional 4,358 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Eagle Point Income in the 3rd quarter valued at approximately $216,000. Cresset Asset Management LLC acquired a new stake in shares of Eagle Point Income during the 4th quarter worth approximately $207,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Eagle Point Income during the 4th quarter valued at approximately $842,000.

Eagle Point Income Stock Performance

EIC traded down $0.02 on Friday, reaching $15.73. 184,423 shares of the company’s stock were exchanged, compared to its average volume of 180,037. Eagle Point Income has a twelve month low of $14.78 and a twelve month high of $16.75. The stock’s fifty day moving average price is $15.82 and its 200-day moving average price is $15.78.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The firm had revenue of $13.67 million during the quarter, compared to analyst estimates of $13.54 million.

Eagle Point Income Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.26%. The ex-dividend date of this dividend is Tuesday, June 10th.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.