Money Concepts Capital Corp Makes New $1.70 Million Investment in Eagle Point Credit Company Inc. (NYSE:ECC)

Money Concepts Capital Corp purchased a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 191,039 shares of the investment management company’s stock, valued at approximately $1,696,000. Money Concepts Capital Corp owned 0.25% of Eagle Point Credit at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Webster Bank N. A. acquired a new stake in Eagle Point Credit during the 3rd quarter valued at approximately $28,000. Union Bancaire Privee UBP SA bought a new stake in shares of Eagle Point Credit in the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit during the third quarter worth $39,000. McIlrath & Eck LLC bought a new position in Eagle Point Credit during the third quarter worth $57,000. Finally, Stephens Inc. AR acquired a new position in Eagle Point Credit in the third quarter valued at $99,000. 19.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Eagle Point Credit Price Performance

Eagle Point Credit stock opened at $8.87 on Thursday. The stock’s 50 day moving average price is $8.96 and its two-hundred day moving average price is $9.46. The stock has a market capitalization of $682.16 million, a price-to-earnings ratio of 11.08 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. Eagle Point Credit Company Inc. has a 52-week low of $8.56 and a 52-week high of $10.49.

Eagle Point Credit Announces Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th were issued a $0.14 dividend. This represents a yield of 18.88%. The ex-dividend date was Monday, January 13th. Eagle Point Credit’s payout ratio is 210.00%.

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.