Wedbush Securities Inc. grew its position in EAGLE POINT CR/COM (NYSE:ECC) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,664 shares of the investment management company’s stock after purchasing an additional 5,438 shares during the period. Wedbush Securities Inc. owned about 0.37% of EAGLE POINT CR/COM worth $1,295,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of ECC. Commonwealth Equity Services LLC boosted its stake in shares of EAGLE POINT CR/COM by 11.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 58,526 shares of the investment management company’s stock worth $922,000 after acquiring an additional 5,864 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of EAGLE POINT CR/COM by 11.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 35,135 shares of the investment management company’s stock worth $554,000 after acquiring an additional 3,500 shares in the last quarter. Morgan Stanley boosted its stake in shares of EAGLE POINT CR/COM by 13.6% during the 2nd quarter. Morgan Stanley now owns 30,505 shares of the investment management company’s stock worth $546,000 after acquiring an additional 3,644 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of EAGLE POINT CR/COM during the 2nd quarter worth about $471,000. Finally, Millennium Management LLC bought a new stake in shares of EAGLE POINT CR/COM during the 3rd quarter worth about $209,000. 32.74% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. LADENBURG THALM/SH SH upgraded EAGLE POINT CR/COM from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, December 9th. ValuEngine upgraded EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd.
EAGLE POINT CR/COM (NYSE:ECC) last released its quarterly earnings results on Tuesday, November 19th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $17.80 million for the quarter, compared to the consensus estimate of $17.70 million. On average, research analysts predict that EAGLE POINT CR/COM will post 1.44 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $2.40 annualized dividend and a yield of 15.37%. EAGLE POINT CR/COM’s payout ratio is 150.94%.
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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