633,333 Shares in Eagle Point Credit Company Inc. $ECC Purchased by North Ground Capital

North Ground Capital bought a new stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) in the 3rd quarter, Holdings Channel reports. The firm bought 633,333 shares of the investment management company’s stock, valued at approximately $4,186,000. Eagle Point Credit makes up 2.6% of North Ground Capital’s investment portfolio, making the stock its 17th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Fermata Advisors LLC raised its holdings in shares of Eagle Point Credit by 15.7% in the third quarter. Fermata Advisors LLC now owns 12,545 shares of the investment management company’s stock worth $83,000 after buying an additional 1,706 shares during the period. MGO One Seven LLC grew its position in Eagle Point Credit by 9.2% in the 2nd quarter. MGO One Seven LLC now owns 28,357 shares of the investment management company’s stock valued at $217,000 after acquiring an additional 2,382 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Eagle Point Credit by 95.5% in the second quarter. AdvisorNet Financial Inc now owns 5,973 shares of the investment management company’s stock worth $46,000 after purchasing an additional 2,918 shares during the period. GPS Wealth Strategies Group LLC purchased a new stake in Eagle Point Credit in the second quarter worth $25,000. Finally, IFP Advisors Inc bought a new stake in shares of Eagle Point Credit during the second quarter worth $28,000. Institutional investors own 19.50% of the company’s stock.

Analysts Set New Price Targets

ECC has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. B. Riley dropped their target price on shares of Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Credit Suisse Group set a $7.00 target price on shares of Eagle Point Credit in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Eagle Point Credit has a consensus rating of “Moderate Buy” and a consensus price target of $7.46.

Eagle Point Credit Stock Performance

NYSE:ECC opened at $5.75 on Monday. The firm has a 50-day simple moving average of $5.87 and a 200-day simple moving average of $6.51. Eagle Point Credit Company Inc. has a one year low of $5.40 and a one year high of $8.96. The firm has a market cap of $726.40 million, a P/E ratio of 30.26 and a beta of 0.27.

Eagle Point Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 11th. This represents a c) dividend on an annualized basis and a yield of 29.2%. Eagle Point Credit’s dividend payout ratio is currently 884.21%.

Eagle Point Credit Company Profile

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.