Bard Associates Inc. Lowers Stock Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Bard Associates Inc. cut its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 206,667 shares of the investment management company’s stock after selling 17,836 shares during the quarter. Bard Associates Inc. owned approximately 0.27% of Eagle Point Credit worth $1,835,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ECC. Union Bancaire Privee UBP SA bought a new position in shares of Eagle Point Credit during the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Eagle Point Credit during the third quarter worth $39,000. McIlrath & Eck LLC purchased a new position in Eagle Point Credit in the third quarter worth $57,000. Kingswood Wealth Advisors LLC bought a new position in Eagle Point Credit in the 4th quarter valued at $98,000. Finally, Stephens Inc. AR purchased a new stake in shares of Eagle Point Credit during the 3rd quarter valued at $99,000. 19.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Eagle Point Credit Trading Up 0.5 %

Shares of ECC stock opened at $8.80 on Tuesday. Eagle Point Credit Company Inc. has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $8.83 and a 200-day moving average of $9.31. The firm has a market cap of $677.14 million, a P/E ratio of 10.48 and a beta of 0.75.

Eagle Point Credit (NYSE:ECC) last issued its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The firm had revenue of $49.55 million during the quarter, compared to the consensus estimate of $49.76 million. Sell-side analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 19.09%. The ex-dividend date of this dividend is Tuesday, June 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 200.00%.

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.