Eagle Point Credit Company Inc. (NYSE:ECC) Sees Significant Growth in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECCGet Free Report) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 312,300 shares, an increase of 26.4% from the May 15th total of 247,000 shares. Based on an average daily volume of 760,200 shares, the days-to-cover ratio is presently 0.4 days.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC traded down $0.01 during midday trading on Monday, hitting $10.10. The company’s stock had a trading volume of 524,028 shares, compared to its average volume of 732,137. The stock has a market capitalization of $776.81 million, a price-to-earnings ratio of 5.43 and a beta of 0.78. The stock’s 50 day simple moving average is $10.14 and its 200 day simple moving average is $9.98. Eagle Point Credit has a fifty-two week low of $8.60 and a fifty-two week high of $10.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.60 and a current ratio of 6.60.

Eagle Point Credit (NYSE:ECCGet Free Report) last issued its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). The business had revenue of $40.81 million during the quarter, compared to analyst estimates of $42.30 million. Eagle Point Credit had a net margin of 88.90% and a return on equity of 14.21%. As a group, research analysts anticipate that Eagle Point Credit will post 1.34 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be given a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 16.64%. The ex-dividend date is Tuesday, September 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 90.32%.

Institutional Investors Weigh In On Eagle Point Credit

Institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Eagle Point Credit during the first quarter worth about $31,000. Nadler Financial Group Inc. acquired a new stake in Eagle Point Credit during the first quarter worth about $101,000. CFO4Life Group LLC acquired a new stake in Eagle Point Credit during the first quarter worth about $105,000. J.W. Cole Advisors Inc. acquired a new stake in Eagle Point Credit during the first quarter worth about $114,000. Finally, Atomi Financial Group Inc. grew its position in Eagle Point Credit by 47.1% during the third quarter. Atomi Financial Group Inc. now owns 15,456 shares of the investment management company’s stock worth $157,000 after buying an additional 4,947 shares in the last quarter. 19.50% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Company Profile

(Get Free Report)

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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