Brown Brothers Harriman & Co. Buys Shares of 10,478 Eagle Point Credit Company Inc. (NYSE:ECC)

Brown Brothers Harriman & Co. purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 10,478 shares of the investment management company’s stock, valued at approximately $93,000.

Other institutional investors have also recently made changes to their positions in the company. PFG Investments LLC grew its holdings in Eagle Point Credit by 11.9% during the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Eagle Point Credit during the fourth quarter valued at approximately $2,038,000. Freestone Capital Holdings LLC increased its holdings in 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 valued at $1,972,000 after buying an additional 46,006 shares during the period. Money Concepts Capital Corp bought a new position in Eagle Point Credit in the fourth quarter worth approximately $1,696,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in Eagle Point Credit by 38.3% during the fourth quarter. J.W. Cole Advisors Inc. now owns 151,809 shares of the investment management company’s stock worth $1,348,000 after buying an additional 42,035 shares during the period. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley cut their price target on 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 Stock Performance

ECC stock opened at $8.20 on Wednesday. Eagle Point Credit Company Inc. has a one year low of $7.36 and a one year high of $10.49. The firm has a market cap of $630.59 million, a price-to-earnings ratio of 9.76 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a 50-day simple moving average of $8.52 and a two-hundred day simple moving average of $9.06.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $49.55 million for 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%. On average, equities analysts forecast that Eagle Point Credit Company Inc. will post 1.1 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

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

Insider Buying and Selling

In other Eagle Point Credit news, CEO Thomas P. Majewski purchased 1,087 shares of the stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

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.