Eagle Point Credit Company Inc. (NYSE:ECC) CEO Purchases $25,001.00 in Stock

Eagle Point Credit Company Inc. (NYSE:ECC) CEO Thomas P. Majewski purchased 1,087 shares of Eagle Point Credit stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $23.00 per share, with a total value of $25,001.00. Following the transaction, the chief executive officer now owns 1,087 shares in the company, valued at approximately $25,001. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Eagle Point Credit Stock Up 0.3 %

Shares of NYSE ECC traded up $0.03 during trading hours on Friday, hitting $7.92. The company had a trading volume of 769,395 shares, compared to its average volume of 1,012,276. The stock has a market capitalization of $609.04 million, a P/E ratio of 9.42 and a beta of 0.73. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a 1-year low of $7.36 and a 1-year high of $10.49. The firm’s 50 day moving average is $8.66 and its 200-day moving average is $9.17.

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

Eagle Point Credit Announces Dividend

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

Institutional Investors Weigh In On Eagle Point Credit

Several hedge funds have recently added to or reduced their stakes in ECC. Rockefeller Capital Management L.P. lifted its holdings in Eagle Point Credit by 2.8% during 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 purchasing an additional 2,112 shares during the last quarter. Stifel Financial Corp acquired a new stake in Eagle Point Credit during the 3rd quarter valued at $149,000. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit during the third quarter worth $39,000. McIlrath & Eck LLC acquired a new position in shares of Eagle Point Credit in the third quarter valued at about $57,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Eagle Point Credit by 35.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company’s stock valued at $447,000 after acquiring an additional 13,067 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price objective 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 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.