Shares of EAGLE POINT CR/COM (NYSE:ECC) have received an average recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of brokerages have commented on ECC. ValuEngine raised EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. CIBC reaffirmed a “market perform” rating 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, National Securities reaffirmed a “buy” rating and set a $24.00 price target on shares of EAGLE POINT CR/COM in a research report on Thursday, November 15th.

In related news, insider Thomas P. Majewski acquired 25,000 shares of EAGLE POINT CR/COM stock in a transaction on Tuesday, December 18th. The stock was acquired at an average price of $23,800.00 per share, for a total transaction of $595,000,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 26,112 shares of company stock valued at $595,016,213 in the last quarter. Company insiders own 0.49% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in shares of EAGLE POINT CR/COM by 386.0% during 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 during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of EAGLE POINT CR/COM in the 3rd quarter valued at about $140,000. Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of EAGLE POINT CR/COM in the 4th quarter valued at about $149,000. National Asset Management Inc. increased its stake in shares of 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 purchasing an additional 103,562 shares in the last quarter. Finally, Penn Mutual Asset Management LLC purchased a new position in shares of EAGLE POINT CR/COM in the 3rd quarter valued at about $1,315,000. Institutional investors and hedge funds own 46.24% of the company’s stock.

Shares of ECC opened at $16.68 on Thursday. EAGLE POINT CR/COM has a one year low of $12.16 and a one year high of $19.00. The stock has a market cap of $309.64 million, a price-to-earnings ratio of 8.87 and a beta of 0.54.

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 11th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.39%. EAGLE POINT CR/COM’s payout ratio is currently 127.66%.

About EAGLE POINT CR/COM

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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