EAGLE POINT Cr/COM (ECC) Receives Consensus Rating of “Buy” from Analysts

EAGLE POINT Cr/COM (NYSE:ECC) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.13.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of EAGLE POINT Cr/COM from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. National Securities reissued a “buy” rating and issued a $24.00 price target on shares of EAGLE POINT Cr/COM in a research report on Friday, May 18th.

In related news, insider Daniel M. Spinner bought 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were acquired at an average price of $73,933.00 per share, with a total value of $5,544,975,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas P. Majewski bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The shares were bought at an average cost of $49,500.00 per share, for a total transaction of $2,475,000,000.00. The disclosure for this purchase can be found here. Company insiders own 0.49% of the company’s stock.



Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new position in EAGLE POINT Cr/COM during the second quarter worth $183,000. Oppenheimer & Co. Inc. bought a new position in EAGLE POINT Cr/COM during the first quarter worth $191,000. Citigroup Inc. increased its position in EAGLE POINT Cr/COM by 341.4% during the first quarter. Citigroup Inc. now owns 13,242 shares of the investment management company’s stock worth $240,000 after acquiring an additional 10,242 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in EAGLE POINT Cr/COM by 261.1% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,574 shares of the investment management company’s stock worth $255,000 after acquiring an additional 9,815 shares during the period. Finally, Millennium Management LLC bought a new position in EAGLE POINT Cr/COM during the first quarter worth $399,000. 44.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of EAGLE POINT Cr/COM traded up $0.05, reaching $18.41, during trading on Friday, MarketBeat reports. The stock had a trading volume of 94,936 shares, compared to its average volume of 105,244. EAGLE POINT Cr/COM has a 52 week low of $17.28 and a 52 week high of $21.60. The firm has a market cap of $348.91 million, a price-to-earnings ratio of 9.79 and a beta of 0.19.

EAGLE POINT Cr/COM (NYSE:ECC) last released its quarterly earnings results on Thursday, May 17th. The investment management company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. EAGLE POINT Cr/COM had a net margin of 58.09% and a return on equity of 10.44%. The company had revenue of $17.01 million for the quarter, compared to analyst estimates of $17.80 million. research analysts expect that EAGLE POINT Cr/COM will post 1.67 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, August 31st. Stockholders of record on Monday, August 13th will be given a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 13.04%. The ex-dividend date of this dividend is Friday, August 10th. EAGLE POINT Cr/COM’s dividend payout ratio is 117.02%.

EAGLE POINT Cr/COM 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.

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