Bard Associates Inc. Trims Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Bard Associates Inc. decreased its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 206,667 shares of the investment management company’s stock after selling 17,836 shares during the period. Bard Associates Inc.’s holdings in Eagle Point Credit were worth $1,835,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ECC. Union Bancaire Privee UBP SA purchased a new stake in Eagle Point Credit in the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC bought a new position in shares of Eagle Point Credit in the third quarter worth $39,000. McIlrath & Eck LLC purchased a new stake in shares of Eagle Point Credit in the third quarter worth $57,000. Kingswood Wealth Advisors LLC bought a new stake in Eagle Point Credit during the fourth quarter valued at $98,000. Finally, Stephens Inc. AR purchased a new position in Eagle Point Credit during the third quarter worth about $99,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price target 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 Price Performance

Shares of NYSE:ECC opened at $8.80 on Tuesday. The company’s fifty day moving average price is $8.83 and its 200-day moving average price is $9.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a market capitalization of $677.14 million, a price-to-earnings ratio of 10.48 and a beta of 0.75. Eagle Point Credit Company Inc. has a one year low of $8.56 and a one year high of $10.49.

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

Eagle Point Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 19.09%. Eagle Point Credit’s dividend payout ratio is 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.