Eagle Point Credit (NYSE:ECC) Raised to “Hold” at Zacks Research

Eagle Point Credit (NYSE:ECC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

ECC has been the topic of a number of other research reports. B. Riley reduced their target price on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Craig Hallum assumed coverage on shares of Eagle Point Credit in a report on Thursday, September 18th. They set a “buy” rating and a $7.75 price target on the stock. Alliance Global Partners started coverage on shares of Eagle Point Credit in a research note on Thursday, September 18th. They issued a “buy” rating and a $7.75 price objective for the company. Credit Suisse Group set a $7.00 target price on shares of Eagle Point Credit in a research note on Thursday, November 20th. Finally, Industrial Alliance Securities set a $7.75 price target on Eagle Point Credit in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.46.

Eagle Point Credit Trading Up 1.4%

Shares of Eagle Point Credit stock opened at $5.62 on Tuesday. The company has a market cap of $709.34 million, a PE ratio of 29.55 and a beta of 0.28. The company has a 50 day moving average of $6.06 and a 200-day moving average of $6.80. Eagle Point Credit has a 1-year low of $5.40 and a 1-year high of $9.23.

Institutional Trading of Eagle Point Credit

Large investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC acquired a new position in Eagle Point Credit during the 2nd quarter worth approximately $25,000. IFP Advisors Inc bought a new position in shares of Eagle Point Credit in the 2nd quarter worth $28,000. Cape Investment Advisory Inc. lifted its holdings in shares of Eagle Point Credit by 91.2% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company’s stock worth $29,000 after purchasing an additional 1,713 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Eagle Point Credit in the 3rd quarter valued at $33,000. Finally, Geneos Wealth Management Inc. bought a new stake in Eagle Point Credit during the 2nd quarter valued at $33,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Company 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.