EAGLE POINT CR/COM (NYSE:ECC) has been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $24.00.
Separately, National Securities restated a “buy” rating and set a $24.00 price target on shares of EAGLE POINT CR/COM in a research report on Thursday, May 23rd.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its stake in shares of EAGLE POINT CR/COM by 81.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 23,947 shares of the investment management company’s stock valued at $340,000 after acquiring an additional 10,750 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. raised its stake in EAGLE POINT CR/COM by 110.2% in 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 buying an additional 71,450 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in EAGLE POINT CR/COM by 4.2% in the first quarter. Mycio Wealth Partners LLC now owns 1,115,115 shares of the investment management company’s stock worth $18,556,000 after buying an additional 45,391 shares in the last quarter. Advisor Group Inc. raised its stake in EAGLE POINT CR/COM by 485.4% in the fourth quarter. Advisor Group Inc. now owns 4,742 shares of the investment management company’s stock worth $68,000 after buying an additional 3,932 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new position in EAGLE POINT CR/COM in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 34.68% of the company’s stock.
EAGLE POINT CR/COM (NYSE:ECC) last announced its earnings results on Wednesday, May 22nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $16.59 million for the quarter, compared to the consensus estimate of $17.80 million. As a group, equities research analysts predict that EAGLE POINT CR/COM will post 1.54 EPS for the current year.
The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.40 annualized dividend and a yield of 13.54%. EAGLE POINT CR/COM’s payout ratio is 150.94%.
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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