EAGLE POINT CR/COM (NYSE:ECC) has been assigned an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.00.

Several brokerages have recently issued reports on ECC. ValuEngine cut EAGLE POINT CR/COM from a “hold” rating to a “sell” rating in a report on Wednesday. National Securities restated a “buy” rating and issued a $24.00 target price on shares of EAGLE POINT CR/COM in a research note on Thursday, May 23rd.

ECC traded down $0.22 during midday trading on Wednesday, hitting $16.17. 115,766 shares of the company were exchanged, compared to its average volume of 185,978. The company’s 50 day simple moving average is $16.88 and its 200 day simple moving average is $17.30. The firm has a market capitalization of $387.62 million, a price-to-earnings ratio of 10.17 and a beta of 0.59. EAGLE POINT CR/COM has a 1-year low of $12.16 and a 1-year high of $19.41.

The company also recently disclosed a dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 11th. EAGLE POINT CR/COM’s payout ratio is 150.94%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtus ETF Advisers LLC purchased a new position in shares of EAGLE POINT CR/COM in the 2nd quarter valued at about $5,434,000. Thomas J. Herzfeld Advisors Inc. boosted its position in EAGLE POINT CR/COM by 110.2% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 136,268 shares of the investment management company’s stock worth $2,267,000 after purchasing an additional 71,450 shares in the last quarter. Wiley BROS. Aintree Capital LLC acquired a new stake in EAGLE POINT CR/COM in the second quarter valued at approximately $686,000. Centaurus Financial Inc. acquired a new stake in EAGLE POINT CR/COM in the second quarter valued at approximately $471,000. Finally, NEXT Financial Group Inc grew its holdings in EAGLE POINT CR/COM by 954.2% in the second quarter. NEXT Financial Group Inc now owns 25,300 shares of the investment management company’s stock valued at $453,000 after purchasing an additional 22,900 shares during the period. 36.21% of the stock is currently owned by institutional investors and hedge funds.

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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