Whipplewood Advisors LLC Invests $2.20 Million in Eagle Point Income Company Inc. $EIC

Whipplewood Advisors LLC acquired a new position in shares of Eagle Point Income Company Inc. (NYSE:EIC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 160,870 shares of the company’s stock, valued at approximately $2,199,000. Eagle Point Income comprises about 1.2% of Whipplewood Advisors LLC’s holdings, making the stock its 17th biggest holding.

Several other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. purchased a new stake in shares of Eagle Point Income during the 1st quarter worth approximately $8,515,000. Graypoint LLC increased its holdings in shares of Eagle Point Income by 1.9% in the 1st quarter. Graypoint LLC now owns 200,895 shares of the company’s stock valued at $3,003,000 after acquiring an additional 3,759 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Eagle Point Income by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 96,830 shares of the company’s stock valued at $1,448,000 after acquiring an additional 10,961 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Eagle Point Income in the 1st quarter valued at $1,149,000. Finally, Choreo LLC acquired a new position in shares of Eagle Point Income in the 1st quarter valued at $1,052,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EIC. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a report on Wednesday, August 13th. Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Eagle Point Income Stock Performance

Shares of Eagle Point Income stock opened at $12.69 on Friday. Eagle Point Income Company Inc. has a one year low of $12.10 and a one year high of $16.71. The firm has a fifty day moving average of $13.14 and a two-hundred day moving average of $13.43.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $15.27 million for the quarter, compared to the consensus estimate of $14.40 million.

Eagle Point Income Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 10th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, November 10th. This represents a c) dividend on an annualized basis and a yield of 12.3%.

Eagle Point Income Company Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.