Eagle Point Income (NYSE:EIC) Raised to Strong-Buy at B. Riley

Eagle Point Income (NYSE:EIC) was upgraded by analysts at B. Riley to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Eagle Point Income Stock Up 1.1 %

NYSE EIC opened at $16.25 on Tuesday. Eagle Point Income has a fifty-two week low of $14.78 and a fifty-two week high of $16.75. The firm’s fifty day moving average price is $15.74 and its two-hundred day moving average price is $15.78.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Webster Bank N. A. acquired a new position in shares of Eagle Point Income during the 3rd quarter valued at $44,000. Main Street Financial Solutions LLC bought a new stake in Eagle Point Income in the second quarter valued at $160,000. Virtu Financial LLC acquired a new position in shares of Eagle Point Income during the third quarter valued at about $216,000. Finally, Graypoint LLC boosted its position in shares of Eagle Point Income by 4.0% during the 3rd quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after purchasing an additional 6,325 shares in the last quarter.

Eagle Point Income Company Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.