Thomas P. Majewski Purchases 1,087 Shares of Eagle Point Credit Company Inc. (NYSE:ECC) Stock

Eagle Point Credit Company Inc. (NYSE:ECC) CEO Thomas P. Majewski acquired 1,087 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $23.00 per share, with a total value of $25,001.00. Following the acquisition, the chief executive officer now owns 1,087 shares of the company’s stock, valued at approximately $25,001. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Eagle Point Credit Trading Up 0.3 %

Shares of NYSE:ECC opened at $7.92 on Friday. The stock has a market capitalization of $609.04 million, a price-to-earnings ratio of 9.42 and a beta of 0.73. Eagle Point Credit Company Inc. has a 1-year low of $7.36 and a 1-year high of $10.49. The company has a 50 day moving average price of $8.64 and a 200 day moving average price of $9.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27.

Eagle Point Credit (NYSE:ECC) last announced its 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). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The company had revenue of $49.55 million for the quarter, compared to analyst estimates of $49.76 million. On average, research analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently disclosed 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 is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio is presently 200.00%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in shares of Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after acquiring an additional 2,112 shares in the last quarter. Stifel Financial Corp acquired a new stake in Eagle Point Credit during the 3rd quarter valued at $149,000. Legacy Investment Solutions LLC purchased a new stake in shares of Eagle Point Credit in the third quarter valued at $39,000. McIlrath & Eck LLC acquired a new stake in shares of Eagle Point Credit in the third quarter worth $57,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Eagle Point Credit by 35.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company’s stock valued at $447,000 after buying an additional 13,067 shares in the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

About Eagle Point Credit

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.