EAGLE POINT CR/COM (NYSE:ECC) reached a new 52-week low during trading on Thursday . The company traded as low as $16.07 and last traded at $16.44, with a volume of 1553 shares trading hands. The stock had previously closed at $16.59.
A number of equities research analysts have recently commented on ECC shares. National Securities restated a “buy” rating and set a $24.00 target price on shares of EAGLE POINT CR/COM in a research report on Thursday, November 15th. Oppenheimer cut EAGLE POINT CR/COM from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 15th. Finally, CIBC restated a “market perform” rating on shares of EAGLE POINT CR/COM in a research report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. EAGLE POINT CR/COM currently has a consensus rating of “Hold” and an average target price of $24.00.
The company has a market cap of $311.87 million, a price-to-earnings ratio of 8.76 and a beta of 0.25.
The business also recently declared a monthly dividend, which will be paid on Monday, December 31st. Investors of record on Thursday, December 13th will be paid a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 14.55%. The ex-dividend date is Wednesday, December 12th. EAGLE POINT CR/COM’s dividend payout ratio is presently 127.66%.
A number of institutional investors have recently modified their holdings of ECC. National Asset Management Inc. lifted its stake in EAGLE POINT CR/COM by 438.7% in the 3rd quarter. National Asset Management Inc. now owns 127,171 shares of the investment management company’s stock valued at $2,277,000 after buying an additional 103,562 shares in the last quarter. Penn Mutual Asset Management LLC purchased a new position in EAGLE POINT CR/COM in the 3rd quarter valued at about $1,315,000. B. Riley Financial Inc. purchased a new position in EAGLE POINT CR/COM in the 3rd quarter valued at about $999,000. Commonwealth Equity Services LLC lifted its stake in EAGLE POINT CR/COM by 386.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 49,013 shares of the investment management company’s stock valued at $877,000 after buying an additional 38,929 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in EAGLE POINT CR/COM in the 2nd quarter valued at about $484,000. 47.75% of the stock is currently owned by hedge funds and other institutional investors.
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About EAGLE POINT CR/COM (NYSE:ECC)
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.
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