Wedbush Securities Inc. Buys 82,367 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Wedbush Securities Inc. lifted its holdings in Eagle Point Credit Company Inc. (NYSE:ECC) by 17.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 567,610 shares of the investment management company’s stock after purchasing an additional 82,367 shares during the period. Wedbush Securities Inc.’s holdings in Eagle Point Credit were worth $5,040,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ECC. Freestone Capital Holdings LLC increased its stake in shares of Eagle Point Credit by 26.1% during the fourth quarter. Freestone Capital Holdings LLC now owns 222,083 shares of the investment management company’s stock worth $1,972,000 after purchasing an additional 46,006 shares during the period. Stifel Financial Corp acquired a new stake in shares of Eagle Point Credit during the third quarter worth $149,000. Balboa Wealth Partners bought a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $839,000. Raymond James Financial Inc. acquired a new position in shares of Eagle Point Credit in the fourth quarter valued at about $2,038,000. Finally, PFG Investments LLC increased its position in Eagle Point Credit by 11.9% during the fourth quarter. PFG Investments LLC now owns 619,399 shares of the investment management company’s stock worth $5,500,000 after acquiring an additional 65,893 shares during the period. Institutional investors and hedge funds own 19.50% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley cut their price objective on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th.

Insiders Place Their Bets

In other Eagle Point Credit news, CEO Thomas P. Majewski bought 1,087 shares of the stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the purchase, the chief executive officer now owns 1,087 shares in the company, valued at $25,001. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Eagle Point Credit Price Performance

Shares of NYSE ECC opened at $7.22 on Friday. The stock has a market capitalization of $555.18 million, a PE ratio of 8.59 and a beta of 0.35. Eagle Point Credit Company Inc. has a fifty-two week low of $6.95 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The business has a fifty day moving average price of $8.46 and a two-hundred day moving average price of $9.02.

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). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The firm had revenue of $49.55 million for the quarter, compared to the consensus estimate of $49.76 million. As a group, equities analysts predict that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

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

Eagle Point Credit 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.