Union Bancaire Privee UBP SA Makes New $27,000 Investment in Eagle Point Credit Company Inc. (NYSE:ECC)

Union Bancaire Privee UBP SA bought a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,250 shares of the investment management company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Eagle Point Credit during the 3rd quarter worth approximately $39,000. McIlrath & Eck LLC bought a new position in shares of Eagle Point Credit during the third quarter worth $57,000. Kingswood Wealth Advisors LLC bought a new position in shares of Eagle Point Credit during the fourth quarter worth $98,000. Stephens Inc. AR bought a new position in shares of Eagle Point Credit during the third quarter worth $99,000. Finally, Ieq Capital LLC bought a new position in Eagle Point Credit during the fourth quarter worth about $145,000. Institutional investors own 19.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Eagle Point Credit Stock Down 0.4 %

Shares of ECC stock opened at $8.71 on Wednesday. Eagle Point Credit Company Inc. has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $8.83 and a 200-day moving average of $9.34. The company has a market capitalization of $669.83 million, a price-to-earnings ratio of 10.36 and a beta of 0.75.

Eagle Point Credit (NYSE:ECC) last announced its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. As a group, equities research analysts predict that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 19.30%. The ex-dividend date is Tuesday, June 10th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 200.00%.

Eagle Point Credit 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.