Citigroup Inc. Raises Position in EAGLE POINT CR/COM (NYSE:ECC)

Citigroup Inc. grew its position in EAGLE POINT CR/COM (NYSE:ECC) by 29.6% during the 4th quarter, Holdings Channel reports. The fund owned 16,385 shares of the investment management company’s stock after buying an additional 3,739 shares during the quarter. Citigroup Inc.’s holdings in EAGLE POINT CR/COM were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in shares of EAGLE POINT CR/COM in the fourth quarter valued at about $56,000. Millennium Management LLC purchased a new stake in shares of EAGLE POINT CR/COM in the third quarter valued at about $209,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of EAGLE POINT CR/COM by 13.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,148 shares of the investment management company’s stock valued at $367,000 after acquiring an additional 2,970 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV boosted its holdings in shares of EAGLE POINT CR/COM by 39.0% in the fourth quarter. Mid Atlantic Financial Management Inc. ADV now owns 34,215 shares of the investment management company’s stock valued at $500,000 after acquiring an additional 9,600 shares in the last quarter. Finally, National Asset Management Inc. boosted its holdings in shares of EAGLE POINT CR/COM by 14.7% in the fourth quarter. National Asset Management Inc. now owns 83,063 shares of the investment management company’s stock valued at $1,214,000 after acquiring an additional 10,633 shares in the last quarter. 34.69% of the stock is currently owned by institutional investors and hedge funds.

ECC has been the topic of several analyst reports. LADENBURG THALM/SH SH raised shares of EAGLE POINT CR/COM from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, December 9th. B. Riley lowered their target price on shares of EAGLE POINT CR/COM from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Monday. Finally, ValuEngine raised shares of EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a report on Friday, January 3rd.

In related news, Portfolio Manager Daniel M. Spinner acquired 536,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were purchased at an average price of $10.09 per share, with a total value of $5,417,068.75. Also, Portfolio Manager Thomas P. Majewski acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average cost of $13.93 per share, for a total transaction of $696,500.00. 0.47% of the stock is currently owned by insiders.

ECC stock opened at $7.48 on Thursday. The company has a market cap of $136.45 million, a P/E ratio of -106.84 and a beta of 0.64. EAGLE POINT CR/COM has a 52 week low of $3.78 and a 52 week high of $19.41. The company’s 50-day moving average price is $12.62 and its 200 day moving average price is $14.65.

EAGLE POINT CR/COM (NYSE:ECC) last released its quarterly earnings data on Thursday, February 27th. The investment management company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). The company had revenue of $14.76 million for the quarter, compared to analysts’ expectations of $17.90 million. As a group, analysts predict that EAGLE POINT CR/COM will post 1.25 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be issued a dividend of $0.20 per share. This represents a $2.40 dividend on an annualized basis and a yield of 32.09%. The ex-dividend date is Wednesday, March 11th. EAGLE POINT CR/COM’s dividend payout ratio is currently 179.10%.

EAGLE POINT CR/COM 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.

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Institutional Ownership by Quarter for EAGLE POINT CR/COM (NYSE:ECC)

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