Ballentine Partners LLC Purchases New Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Ballentine Partners LLC acquired a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 21,985 shares of the investment management company’s stock, valued at approximately $221,000.

Several other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its position in shares of Eagle Point Credit by 7.7% in the fourth quarter. Private Advisor Group LLC now owns 74,538 shares of the investment management company’s stock worth $708,000 after buying an additional 5,355 shares during the period. Financial Advocates Investment Management boosted its position in Eagle Point Credit by 4.5% during the 4th quarter. Financial Advocates Investment Management now owns 26,823 shares of the investment management company’s stock worth $255,000 after acquiring an additional 1,157 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Eagle Point Credit by 5.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 96,127 shares of the investment management company’s stock valued at $913,000 after acquiring an additional 4,881 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at about $1,192,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Eagle Point Credit by 8.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 98,561 shares of the investment management company’s stock worth $936,000 after purchasing an additional 8,066 shares in the last quarter. 19.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th.

Eagle Point Credit Stock Performance

NYSE ECC opened at $9.80 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.19. Eagle Point Credit Company Inc. has a 1-year low of $8.60 and a 1-year high of $10.49. The firm’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $10.06. The company has a market capitalization of $754.09 million, a PE ratio of 5.27 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings data on Tuesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $42.28 million during the quarter, compared to analyst estimates of $45.67 million. Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. As a group, sell-side analysts anticipate that Eagle Point Credit Company Inc. will post 1.28 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be issued a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a dividend yield of 17.14%. The ex-dividend date of this dividend is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio is currently 90.32%.

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.