Janney Montgomery Scott LLC Has $447,000 Stock Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Janney Montgomery Scott LLC increased its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 35.0% in the fourth quarter, HoldingsChannel reports. The firm owned 50,370 shares of the investment management company’s stock after purchasing an additional 13,067 shares during the period. Janney Montgomery Scott LLC’s holdings in Eagle Point Credit were worth $447,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Webster Bank N. A. acquired a new stake in shares of Eagle Point Credit during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit during the 3rd quarter worth about $39,000. McIlrath & Eck LLC acquired a new stake in shares of Eagle Point Credit during the 3rd quarter worth about $57,000. Stephens Inc. AR acquired a new stake in shares of Eagle Point Credit during the 3rd quarter worth about $99,000. Finally, Atomi Financial Group Inc. increased its position in shares of Eagle Point Credit by 32.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 14,273 shares of the investment management company’s stock worth $141,000 after purchasing an additional 3,491 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Trading Up 0.5 %

ECC opened at $8.96 on Monday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $689.09 million, a PE ratio of 11.19 and a beta of 0.75. Eagle Point Credit Company Inc. has a 1-year low of $8.56 and a 1-year high of $10.49. The firm has a 50-day moving average price of $8.95 and a two-hundred day moving average price of $9.44.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th were given a $0.14 dividend. This represents a yield of 18.88%. The ex-dividend date was Monday, January 13th. Eagle Point Credit’s payout ratio is presently 210.00%.

Analyst Ratings Changes

Separately, B. Riley lowered 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 research report on Tuesday, January 7th.

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.