Eagle Point Credit (NYSE:ECC) Sets New 52-Week Low – Should You Sell?

Eagle Point Credit Company Inc. (NYSE:ECC) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.29 and last traded at $7.45, with a volume of 924499 shares trading hands. The stock had previously closed at $7.74.

Analyst Upgrades and Downgrades

Separately, B. Riley lowered their target price 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.

Eagle Point Credit Stock Down 6.8 %

The company has a market cap of $555.18 million, a P/E ratio of 8.59 and a beta of 0.35. The company’s 50-day moving average is $8.46 and its two-hundred day moving average is $9.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27.

Eagle Point Credit (NYSE:ECC) last posted its 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 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%. 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 business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit’s payout ratio is 200.00%.

Insiders Place Their Bets

In other news, CEO Thomas P. Majewski purchased 1,087 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost 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 in the company, valued at $25,001. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eagle Point Credit

A number of institutional investors and hedge funds have recently made changes to their positions in ECC. B. Riley Wealth Advisors Inc. boosted its stake in shares of Eagle Point Credit by 16.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 17,061 shares of the investment management company’s stock worth $152,000 after acquiring an additional 2,463 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Eagle Point Credit during the fourth quarter valued at about $70,000. Cresset Asset Management LLC increased its position in Eagle Point Credit by 89.4% in the fourth quarter. Cresset Asset Management LLC now owns 57,177 shares of the investment management company’s stock worth $508,000 after buying an additional 26,990 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Eagle Point Credit by 53.5% in the fourth quarter. Cetera Investment Advisers now owns 28,109 shares of the investment management company’s stock worth $250,000 after buying an additional 9,796 shares during the period. Finally, Lido Advisors LLC purchased a new position in shares of Eagle Point Credit during the 4th quarter valued at about $162,000. Hedge funds and other institutional investors own 19.50% 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.