LADENBURG THALM/SH SH Upgrades Eagle Point Income (NYSE:EIC) to “Strong-Buy”

Eagle Point Income (NYSE:EIC) was upgraded by research analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, B. Riley upgraded Eagle Point Income to a “strong-buy” rating in a research report on Tuesday, January 7th.

Eagle Point Income Stock Performance

NYSE:EIC opened at $15.71 on Thursday. Eagle Point Income has a 12-month low of $14.78 and a 12-month high of $16.75. The stock’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $15.79.

Institutional Trading of Eagle Point Income

Several hedge funds have recently bought and sold shares of EIC. Webster Bank N. A. acquired a new position in shares of Eagle Point Income during the third quarter worth about $44,000. Virtu Financial LLC acquired a new position in Eagle Point Income during the 3rd quarter worth approximately $216,000. Finally, Graypoint LLC grew its stake in shares of Eagle Point Income by 4.0% during the 3rd quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after acquiring an additional 6,325 shares in the last quarter.

Eagle Point Income Company Profile

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.