EAGLE POINT Cr/COM (NYSE:ECC) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.33.

A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of EAGLE POINT Cr/COM from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. National Securities restated a “buy” rating and issued a $24.00 target price on shares of EAGLE POINT Cr/COM in a report on Thursday, August 16th.

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. lifted its position in shares of EAGLE POINT Cr/COM by 341.4% during the first quarter. Citigroup Inc. now owns 13,242 shares of the investment management company’s stock worth $240,000 after purchasing an additional 10,242 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of EAGLE POINT Cr/COM by 18.3% during the first quarter. Baird Financial Group Inc. now owns 47,004 shares of the investment management company’s stock worth $853,000 after purchasing an additional 7,257 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. lifted its position in shares of EAGLE POINT Cr/COM by 5,754.7% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 322,655 shares of the investment management company’s stock worth $5,853,000 after purchasing an additional 317,144 shares in the last quarter. Millennium Management LLC acquired a new position in shares of EAGLE POINT Cr/COM during the first quarter worth $399,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of EAGLE POINT Cr/COM during the second quarter worth $183,000. 45.77% of the stock is currently owned by hedge funds and other institutional investors.

EAGLE POINT Cr/COM stock traded up $0.06 during trading on Monday, reaching $17.96. The company had a trading volume of 5,345 shares, compared to its average volume of 85,906. EAGLE POINT Cr/COM has a 12-month low of $17.28 and a 12-month high of $21.60. The company has a market cap of $337.44 million, a price-to-earnings ratio of 9.55 and a beta of 0.18.

EAGLE POINT Cr/COM (NYSE:ECC) last released its earnings results on Tuesday, August 14th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. EAGLE POINT Cr/COM had a net margin of 48.18% and a return on equity of 10.44%. The firm had revenue of $17.39 million during the quarter, compared to the consensus estimate of $18.10 million. analysts anticipate that EAGLE POINT Cr/COM will post 1.69 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 13th were issued a $0.20 dividend. The ex-dividend date was Friday, August 10th. This represents a $2.40 dividend on an annualized basis and a yield of 13.36%. EAGLE POINT Cr/COM’s payout ratio is 127.66%.

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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