TrueMark Investments LLC Has $1.40 Million Position in Eagle Point Credit Company Inc. (NYSE:ECC)

TrueMark Investments LLC cut its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 48.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,967 shares of the investment management company’s stock after selling 147,984 shares during the period. TrueMark Investments LLC’s holdings in Eagle Point Credit were worth $1,403,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Eagle Point Credit by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company’s stock valued at $921,000 after acquiring an additional 1,666 shares during the last quarter. Rockefeller Capital Management L.P. raised its position 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 worth $763,000 after purchasing an additional 2,112 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Eagle Point Credit during the 4th quarter worth about $27,000. Kestra Private Wealth Services LLC grew its position in shares of Eagle Point Credit by 4.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 76,425 shares of the investment management company’s stock valued at $679,000 after buying an additional 3,464 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit in the third quarter valued at about $39,000. 19.50% of the stock is owned by institutional investors.

Eagle Point Credit Trading Up 0.9 %

ECC opened at $8.03 on Wednesday. Eagle Point Credit Company Inc. has a twelve month low of $7.36 and a twelve month high of $10.49. The company has a fifty day moving average of $8.60 and a 200-day moving average of $9.12. The stock has a market cap of $617.89 million, a PE ratio of 9.56 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 (NYSE:ECC) last posted its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business 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%. On average, sell-side analysts predict that Eagle Point Credit Company Inc. will post 1.1 EPS for the current year.

Eagle Point Credit Announces Dividend

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

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 on the stock in a research note on Tuesday, January 7th.

Insider Buying and Selling at Eagle Point Credit

In related news, CEO Thomas P. Majewski acquired 1,087 shares of the stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares of the company’s stock, valued at $25,001. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

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.