World Investment Advisors Takes Position in Eagle Point Credit Company Inc. (NYSE:ECC)

World Investment Advisors bought a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,830 shares of the investment management company’s stock, valued at approximately $194,000.

Several other large investors have also modified their holdings of ECC. Thomas J. Herzfeld Advisors Inc. boosted its stake in Eagle Point Credit by 66.0% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 206,460 shares of the investment management company’s stock worth $1,833,000 after purchasing an additional 82,061 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Eagle Point Credit during the 4th quarter worth $93,000. Summitry LLC acquired a new stake in Eagle Point Credit during the 4th quarter worth $107,000. Commonwealth Equity Services LLC boosted its stake in Eagle Point Credit by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company’s stock worth $921,000 after purchasing an additional 1,666 shares during the period. Finally, CFO4Life Group LLC boosted its stake in Eagle Point Credit by 29.9% during the 4th quarter. CFO4Life Group LLC now owns 23,475 shares of the investment management company’s stock worth $208,000 after purchasing an additional 5,400 shares during the period. Institutional investors and hedge funds own 19.50% of the company’s stock.

Insider Transactions at Eagle Point Credit

In other news, CEO Thomas P. Majewski purchased 1,087 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $23.00 per share, with a total value of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares of the company’s stock, valued at $25,001. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley decreased 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 research note on Tuesday, January 7th.

Eagle Point Credit Stock Up 11.5 %

Shares of Eagle Point Credit stock opened at $8.05 on Thursday. The company has a market cap of $619.43 million, a P/E ratio of 9.58 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. Eagle Point Credit Company Inc. has a one year low of $6.54 and a one year high of $10.49. The firm has a fifty day moving average of $8.34 and a two-hundred day moving average of $8.95.

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

Eagle Point Credit Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 200.00%.

Eagle Point Credit 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.