Chicago Partners Investment Group LLC Has $400,000 Stake in Eagle Point Credit Company Inc. $ECC

Chicago Partners Investment Group LLC reduced its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,012 shares of the investment management company’s stock after selling 2,140 shares during the period. Chicago Partners Investment Group LLC owned 0.07% of Eagle Point Credit worth $400,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc bought a new position in Eagle Point Credit during the 2nd quarter worth $28,000. Cape Investment Advisory Inc. raised its position in Eagle Point Credit by 91.2% during 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 during the last quarter. N.E.W. Advisory Services LLC bought a new position in Eagle Point Credit during the 1st quarter worth $35,000. Farther Finance Advisors LLC bought a new position in Eagle Point Credit during the 2nd quarter worth $35,000. Finally, TCTC Holdings LLC bought a new position in Eagle Point Credit during the 1st quarter worth $45,000. 19.50% of the stock is owned by institutional investors.

Eagle Point Credit Trading Up 2.3%

Shares of Eagle Point Credit stock opened at $6.11 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Eagle Point Credit Company Inc. has a 52 week low of $5.80 and a 52 week high of $9.80. The stock has a market capitalization of $469.78 million, a PE ratio of 55.51 and a beta of 0.39. The stock has a 50 day moving average price of $6.83 and a two-hundred day moving average price of $7.26.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 10th will be issued a $0.14 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 27.5%. The ex-dividend date is Monday, November 10th. Eagle Point Credit’s dividend payout ratio is currently 1,527.27%.

Analyst Upgrades and Downgrades

ECC has been the subject of several analyst reports. LADENBURG THALM/SH SH raised Eagle Point Credit to a “strong-buy” rating in a research report on Wednesday, August 13th. Craig Hallum began coverage on Eagle Point Credit in a research report on Thursday, September 18th. They set a “buy” rating and a $7.75 target price for the company. Zacks Research raised Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Alliance Global Partners began coverage on Eagle Point Credit in a research report on Thursday, September 18th. They issued a “buy” rating and a $7.75 price objective for the company. Finally, Industrial Alliance Securities set a $7.75 price objective on Eagle Point Credit in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.21.

About Eagle Point Credit

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.