Mycio Wealth Partners LLC decreased its holdings in shares of EAGLE POINT CR/COM (NYSE:ECC) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,069,724 shares of the investment management company’s stock after selling 12,529 shares during the quarter. EAGLE POINT CR/COM makes up 1.4% of Mycio Wealth Partners LLC’s holdings, making the stock its 14th biggest position. Mycio Wealth Partners LLC owned about 5.69% of EAGLE POINT CR/COM worth $15,201,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in EAGLE POINT CR/COM during the 3rd quarter worth $140,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of EAGLE POINT CR/COM in the fourth quarter worth approximately $149,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of EAGLE POINT CR/COM in the 3rd quarter valued at about $236,000. Evercore Wealth Management LLC purchased a new position in shares of EAGLE POINT CR/COM during the 3rd quarter valued at $299,000. Finally, Commonwealth Equity Services LLC raised its stake in EAGLE POINT CR/COM by 386.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 49,013 shares of the investment management company’s stock worth $877,000 after purchasing an additional 38,929 shares in the last quarter. Institutional investors own 48.12% of the company’s stock.
Shares of EAGLE POINT CR/COM stock opened at $15.97 on Thursday. EAGLE POINT CR/COM has a 52 week low of $12.16 and a 52 week high of $19.00. The company has a market capitalization of $300.48 million, a P/E ratio of 8.49 and a beta of 0.54.
The company also recently announced a monthly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 11th. This represents a $2.40 dividend on an annualized basis and a yield of 15.03%. EAGLE POINT CR/COM’s dividend payout ratio (DPR) is currently 127.66%.
In other news, insider Thomas P. Majewski purchased 25,000 shares of the company’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average price of $23,800.00 per share, with a total value of $595,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 27,112 shares of company stock valued at $595,032,713. Insiders own 0.49% of the company’s stock.
Several research firms recently weighed in on ECC. National Securities reiterated a “buy” rating and issued a $24.00 target price on shares of EAGLE POINT CR/COM in a research note on Thursday, November 15th. ValuEngine upgraded shares of EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. CIBC reissued a “market perform” rating on shares of EAGLE POINT CR/COM in a research report on Thursday, November 15th. Finally, Oppenheimer cut shares of EAGLE POINT CR/COM from an “outperform” rating to a “market perform” rating in a report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.00.
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EAGLE POINT CR/COM 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.
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