Eagle Point Credit Company Inc. (NYSE:ECC) Sees Large Increase in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECC) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 312,300 shares, a growth of 26.4% from the May 15th total of 247,000 shares. Based on an average daily trading volume, of 760,200 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Eagle Point Credit

Institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Eagle Point Credit in the 1st quarter valued at about $31,000. Nadler Financial Group Inc. bought a new stake in shares of Eagle Point Credit in the 1st quarter valued at about $101,000. CFO4Life Group LLC bought a new stake in shares of Eagle Point Credit in the 1st quarter valued at about $105,000. J.W. Cole Advisors Inc. bought a new stake in shares of Eagle Point Credit in the 1st quarter valued at about $114,000. Finally, Atomi Financial Group Inc. raised its holdings in Eagle Point Credit by 47.1% in the 3rd quarter. Atomi Financial Group Inc. now owns 15,456 shares of the investment management company’s stock valued at $157,000 after acquiring an additional 4,947 shares during the period. 19.50% of the stock is owned by institutional investors.

Eagle Point Credit Stock Down 0.1 %

NYSE:ECC traded down $0.01 on Monday, hitting $10.10. 524,028 shares of the company’s stock were exchanged, compared to its average volume of 732,137. The firm has a 50-day moving average price of $10.14 and a 200-day moving average price of $9.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.60 and a quick ratio of 6.60. Eagle Point Credit has a 52 week low of $8.60 and a 52 week high of $10.58. The company has a market cap of $776.81 million, a P/E ratio of 5.43 and a beta of 0.78.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Eagle Point Credit had a return on equity of 14.21% and a net margin of 88.90%. The business had revenue of $40.81 million for the quarter, compared to the consensus estimate of $42.30 million. As a group, analysts expect that Eagle Point Credit will post 1.34 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.64%. Eagle Point Credit’s payout ratio is 90.32%.

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.