Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Up 91.0% in February

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 78,900 shares, an increase of 91.0% from the February 13th total of 41,300 shares. Based on an average daily trading volume, of 248,500 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Graypoint LLC grew its stake in shares of Eagle Point Income by 19.2% during the 4th quarter. Graypoint LLC now owns 197,136 shares of the company’s stock valued at $3,063,000 after acquiring an additional 31,813 shares during the period. Principal Securities Inc. grew its stake in shares of Eagle Point Income by 5.3% during the 4th quarter. Principal Securities Inc. now owns 85,869 shares of the company’s stock valued at $1,334,000 after acquiring an additional 4,358 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Eagle Point Income by 5.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 85,869 shares of the company’s stock valued at $1,334,000 after acquiring an additional 4,358 shares during the period. Raymond James Financial Inc. bought a new position in shares of Eagle Point Income during the 4th quarter valued at approximately $842,000. Finally, LPL Financial LLC grew its stake in shares of Eagle Point Income by 14.3% during the 4th quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock valued at $435,000 after acquiring an additional 3,504 shares during the period.

Eagle Point Income Stock Down 0.7 %

NYSE EIC opened at $15.23 on Friday. Eagle Point Income has a 52 week low of $14.78 and a 52 week high of $16.75. The company has a 50-day moving average price of $15.82 and a 200-day moving average price of $15.80.

Eagle Point Income (NYSE:EIC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.08). The firm had revenue of $13.67 million for the quarter, compared to analysts’ expectations of $13.54 million.

Eagle Point Income Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, April 10th.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EIC shares. B. Riley raised Eagle Point Income to a “strong-buy” rating in a research report on Tuesday, January 7th. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a research report on Thursday, January 16th.

About Eagle Point Income

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.