Worth Asset Management LLC Lowers Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Worth Asset Management LLC lessened its holdings in Eagle Point Credit Company Inc. (NYSE:ECC) by 45.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,733 shares of the investment management company’s stock after selling 29,914 shares during the period. Worth Asset Management LLC’s holdings in Eagle Point Credit were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. McIlrath & Eck LLC purchased a new stake in shares of Eagle Point Credit in the third quarter valued at approximately $57,000. Legacy Investment Solutions LLC acquired a new stake in Eagle Point Credit in the 3rd quarter valued at $39,000. Stifel Financial Corp purchased a new stake in Eagle Point Credit in the 3rd quarter worth $149,000. Rockefeller Capital Management L.P. raised its position in Eagle Point Credit by 2.8% during the third quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock worth $763,000 after acquiring an additional 2,112 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in Eagle Point Credit by 10.5% during the third quarter. Chicago Partners Investment Group LLC now owns 91,924 shares of the investment management company’s stock valued at $889,000 after purchasing an additional 8,719 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Eagle Point Credit Price Performance

Shares of ECC traded up $0.01 during trading hours on Wednesday, hitting $9.08. 355,559 shares of the stock were exchanged, compared to its average volume of 817,143. The stock’s 50-day moving average price is $9.16 and its two-hundred day moving average price is $9.63. Eagle Point Credit Company Inc. has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market cap of $698.69 million, a price-to-earnings ratio of 11.35 and a beta of 0.75.

Eagle Point Credit Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, January 13th. Eagle Point Credit’s dividend payout ratio (DPR) is 210.00%.

About Eagle Point Credit

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.