Bard Associates Inc. Sells 11,353 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Bard Associates Inc. reduced its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,503 shares of the investment management company’s stock after selling 11,353 shares during the period. Bard Associates Inc.’s holdings in Eagle Point Credit were worth $2,214,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Freestone Capital Holdings LLC increased its stake in shares of Eagle Point Credit by 1.3% in the 1st quarter. Freestone Capital Holdings LLC now owns 90,287 shares of the investment management company’s stock worth $913,000 after acquiring an additional 1,188 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Eagle Point Credit by 5.8% during the first quarter. Quadrature Capital Ltd now owns 132,905 shares of the investment management company’s stock valued at $1,346,000 after purchasing an additional 7,285 shares during the last quarter. Sage Capital Advisors llc boosted its position in shares of Eagle Point Credit by 14.1% in the 2nd quarter. Sage Capital Advisors llc now owns 45,937 shares of the investment management company’s stock worth $462,000 after purchasing an additional 5,681 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of Eagle Point Credit in the 2nd quarter worth approximately $144,000. Finally, Cadent Capital Advisors LLC increased its position in Eagle Point Credit by 7.8% during the 2nd quarter. Cadent Capital Advisors LLC now owns 451,611 shares of the investment management company’s stock valued at $4,539,000 after buying an additional 32,666 shares in the last quarter. 19.50% of the stock is owned by institutional investors.

Eagle Point Credit Stock Down 1.5 %

NYSE:ECC opened at $9.27 on Friday. The firm has a 50-day simple moving average of $9.75 and a two-hundred day simple moving average of $9.95. The firm has a market cap of $713.33 million, a P/E ratio of 5.42 and a beta of 0.76. Eagle Point Credit Company Inc. has a fifty-two week low of $8.94 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 2.98.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.68 dividend on an annualized basis and a yield of 18.12%. Eagle Point Credit’s payout ratio is currently 98.25%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their target price on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 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.