North Ground Capital Invests $5.68 Million in Eagle Point Income Company Inc. $EIC

North Ground Capital bought a new stake in shares of Eagle Point Income Company Inc. (NYSE:EIC) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 422,222 shares of the company’s stock, valued at approximately $5,683,000. Eagle Point Income accounts for about 3.5% of North Ground Capital’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors have also recently bought and sold shares of EIC. Whipplewood Advisors LLC acquired a new stake in Eagle Point Income during the 2nd quarter worth about $2,199,000. Enstar Group LTD increased its position in shares of Eagle Point Income by 1.5% in the second quarter. Enstar Group LTD now owns 3,819,656 shares of the company’s stock worth $52,215,000 after acquiring an additional 55,076 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Eagle Point Income in the second quarter worth approximately $325,000. Ballentine Partners LLC raised its holdings in shares of Eagle Point Income by 96.6% during the second quarter. Ballentine Partners LLC now owns 24,650 shares of the company’s stock valued at $337,000 after acquiring an additional 12,111 shares during the period. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in shares of Eagle Point Income in the 3rd quarter valued at approximately $131,000.

Eagle Point Income Price Performance

Shares of NYSE:EIC opened at $11.16 on Monday. The firm has a fifty day moving average of $11.36 and a two-hundred day moving average of $12.47. Eagle Point Income Company Inc. has a 12-month low of $10.81 and a 12-month high of $16.23.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03.

Eagle Point Income Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.11 per share. This represents a c) annualized dividend and a dividend yield of 11.8%. The ex-dividend date is Wednesday, March 11th.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. B. Riley decreased their price objective on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Zacks Research lowered Eagle Point Income from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eagle Point Income presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Eagle Point Income Profile

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.