Eagle Point Credit (NYSE:ECC) Sets New 52-Week Low – What’s Next?

Eagle Point Credit Company Inc. (NYSE:ECC)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.16 and last traded at $8.36, with a volume of 1819682 shares traded. The stock had previously closed at $8.62.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their price target on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Eagle Point Credit Stock Performance

The company has a market capitalization of $634.44 million, a P/E ratio of 9.82 and a beta of 0.73. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average is $8.82 and its 200 day moving average is $9.27.

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

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a $0.14 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 20.38%. Eagle Point Credit’s dividend payout ratio (DPR) is currently 200.00%.

Institutional Trading of Eagle Point Credit

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Union Bancaire Privee UBP SA bought a new position in shares of Eagle Point Credit in the fourth quarter worth $27,000. Legacy Investment Solutions LLC bought a new position in shares of Eagle Point Credit in the third quarter worth approximately $39,000. Transce3nd LLC purchased a new stake in Eagle Point Credit in the fourth quarter valued at approximately $45,000. McIlrath & Eck LLC bought a new stake in Eagle Point Credit during the third quarter valued at approximately $57,000. Finally, Ameriflex Group Inc. purchased a new position in Eagle Point Credit in the 4th quarter worth approximately $70,000. Institutional investors own 19.50% of the company’s stock.

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.