Short Interest in Eagle Point Income Company Inc. (NYSE:EIC) Grows By 58.5%

Eagle Point Income Company Inc. (NYSE:EIC) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 82,617 shares, a growth of 58.5% from the July 30th total of 52,136 shares. Based on an average daily trading volume, of 91,177 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Eagle Point Income presently has a consensus rating of “Hold” and an average price target of $11.25.

Eagle Point Income Stock Down 0.1%

EIC opened at $9.99 on Thursday. The business has a 50 day simple moving average of $10.05 and a two-hundred day simple moving average of $10.04. Eagle Point Income has a one year low of $9.17 and a one year high of $13.92.

Eagle Point Income (NYSE:EIC) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of ($3.11) million during the quarter, compared to analysts’ expectations of $12.15 million.

Eagle Point Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Friday, December 11th.

Institutional Trading of Eagle Point Income

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Eagle Point Income by 63.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the period. TCTC Holdings LLC lifted its position in shares of Eagle Point Income by 38.5% in the 4th quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the period. Advisory Services Network LLC bought a new stake in shares of Eagle Point Income during the 3rd quarter valued at about $89,000. Evolve Private Wealth LLC bought a new stake in shares of Eagle Point Income during the 4th quarter valued at about $122,000. Finally, Astoria Portfolio Advisors LLC. boosted its stake in shares of Eagle Point Income by 9.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 13,182 shares of the company’s stock valued at $132,000 after purchasing an additional 1,090 shares in the last quarter.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.