Eagle Point Credit (NYSE:ECC) Sees Large Volume Increase – Here’s What Happened

Eagle Point Credit Company Inc. (NYSE:ECC) saw an uptick in trading volume on Friday . 1,990,298 shares traded hands during mid-day trading, an increase of 103% from the previous session’s volume of 981,439 shares.The stock last traded at $8.73 and had previously closed at $8.80.

Analysts Set New Price Targets

Separately, B. Riley decreased their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Eagle Point Credit Stock Down 1.1 %

The company has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $9.53. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $669.83 million, a P/E ratio of 10.88 and a beta of 0.75.

Eagle Point Credit Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a yield of 18.88%. Eagle Point Credit’s payout ratio is currently 210.00%.

Institutional Investors Weigh In On Eagle Point Credit

Several large investors have recently added to or reduced their stakes in the stock. PFG Investments LLC grew its stake in shares of Eagle Point Credit by 11.9% during the fourth quarter. PFG Investments LLC now owns 619,399 shares of the investment management company’s stock valued at $5,500,000 after buying an additional 65,893 shares during the last quarter. Oxinas Partners Wealth Management LLC grew its stake in shares of Eagle Point Credit by 44.0% during the third quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock valued at $1,750,000 after buying an additional 54,240 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Eagle Point Credit by 92.6% during the third quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company’s stock valued at $1,082,000 after buying an additional 52,782 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Eagle Point Credit by 13.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 102,886 shares of the investment management company’s stock valued at $1,034,000 after buying an additional 12,391 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Eagle Point Credit by 10.5% during the third quarter. Chicago Partners Investment Group LLC now owns 91,924 shares of the investment management company’s stock valued at $889,000 after buying an additional 8,719 shares during the last quarter. 19.50% of the stock is owned by institutional investors.

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.