94,508 Shares in Eagle Point Credit Company Inc. (NYSE:ECC) Acquired by Balboa Wealth Partners

Balboa Wealth Partners purchased a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 94,508 shares of the investment management company’s stock, valued at approximately $839,000. Balboa Wealth Partners owned 0.12% of Eagle Point Credit as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ECC. Rockefeller Capital Management L.P. increased its stake in shares of Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after acquiring an additional 2,112 shares in the last quarter. Stifel Financial Corp acquired a new stake in Eagle Point Credit in the third quarter worth $149,000. Legacy Investment Solutions LLC bought a new stake in Eagle Point Credit in the third quarter valued at $39,000. McIlrath & Eck LLC acquired a new position in shares of Eagle Point Credit during the third quarter valued at about $57,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Eagle Point Credit by 35.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company’s stock worth $447,000 after purchasing an additional 13,067 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors.

Eagle Point Credit Price Performance

Shares of ECC opened at $8.18 on Thursday. The business’s fifty day moving average is $8.80 and its 200 day moving average is $9.25. Eagle Point Credit Company Inc. has a 12-month low of $8.05 and a 12-month high of $10.49. 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 stock has a market cap of $629.05 million, a P/E ratio of 9.73 and a beta of 0.73.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $49.55 million during the quarter, compared to the consensus estimate of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. Sell-side analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.

Eagle Point Credit Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 200.00%.

Wall Street Analysts Forecast Growth

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