Short Interest in Eagle Point Income Company Inc. (NYSE:EIC) Increases By 83.5%

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 92,929 shares, a growth of 83.5% from the April 30th total of 50,645 shares. Based on an average daily volume of 146,539 shares, the days-to-cover ratio is presently 0.6 days.

Eagle Point Income Trading Down 0.5%

Shares of EIC stock opened at $10.70 on Tuesday. Eagle Point Income has a 12 month low of $9.17 and a 12 month high of $14.05. The stock has a 50 day moving average of $10.06 and a 200-day moving average of $10.55.

Eagle Point Income Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Thursday, September 10th.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research upgraded Eagle Point Income from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Eagle Point Income in a report on Friday, February 27th. Finally, B. Riley Financial cut their price objective on Eagle Point Income from $14.00 to $11.25 and set a “buy” rating on the stock in a report on Monday, March 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Freestone Capital Holdings LLC bought a new stake in shares of Eagle Point Income during the 4th quarter valued at $707,000. Alpine Global Management LLC bought a new stake in shares of Eagle Point Income during the 3rd quarter valued at $2,991,000. Penserra Capital Management LLC bought a new stake in shares of Eagle Point Income during the 3rd quarter valued at $9,959,000. Kestra Advisory Services LLC lifted its position in shares of Eagle Point Income by 203.7% during the 4th quarter. Kestra Advisory Services LLC now owns 34,290 shares of the company’s stock valued at $391,000 after acquiring an additional 23,000 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Eagle Point Income by 17.5% during the 4th quarter. LPL Financial LLC now owns 39,761 shares of the company’s stock worth $454,000 after buying an additional 5,918 shares in the last quarter.

About Eagle Point Income

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.