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

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

Analyst Upgrades and Downgrades

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

Eagle Point Credit Stock Performance

The firm has a market cap of $634.44 million, a P/E ratio of 9.82 and a beta of 0.73. The business’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $9.27. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit (NYSE:ECC) last announced 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 business had revenue of $49.55 million for the quarter, compared to analysts’ expectations of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. As a group, sell-side 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 firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 20.38%. Eagle Point Credit’s dividend payout ratio is presently 200.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA purchased a new stake in shares of Eagle Point Credit in the 4th quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in Eagle Point Credit in the third quarter worth about $39,000. Transce3nd LLC purchased a new stake in Eagle Point Credit in the fourth quarter worth about $45,000. McIlrath & Eck LLC bought a new stake in Eagle Point Credit during the 3rd quarter valued at approximately $57,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Eagle Point Credit during the 4th quarter worth approximately $70,000. 19.50% of the stock is owned by hedge funds and other institutional investors.

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.