Eagle Point Credit (NYSE:ECC) Sets New 1-Year Low – Time to Sell?

Eagle Point Credit Company Inc. (NYSE:ECC)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $8.16 and last traded at $8.36, with a volume of 1819682 shares trading hands. The stock had previously closed at $8.62.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Eagle Point Credit Price Performance

The firm has a market cap of $625.20 million, a price-to-earnings ratio of 9.67 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 business has a 50 day simple moving average of $8.80 and a 200-day simple moving average of $9.25.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $49.55 million for the quarter, compared to analyst estimates of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. Equities research analysts expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 200.00%.

Hedge Funds Weigh In On Eagle Point Credit

Hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its stake in shares of Eagle Point Credit by 16.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 17,061 shares of the investment management company’s stock worth $152,000 after buying an additional 2,463 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Eagle Point Credit in the 4th quarter worth approximately $70,000. Cresset Asset Management LLC boosted its stake in shares of Eagle Point Credit by 89.4% in the 4th quarter. Cresset Asset Management LLC now owns 57,177 shares of the investment management company’s stock worth $508,000 after buying an additional 26,990 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Eagle Point Credit by 53.5% in the 4th quarter. Cetera Investment Advisers now owns 28,109 shares of the investment management company’s stock worth $250,000 after buying an additional 9,796 shares during the last quarter. Finally, Lido Advisors LLC purchased a new position in shares of Eagle Point Credit in the 4th quarter worth approximately $162,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

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.