Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) CEO Thomas P. Majewski purchased 1,087 shares of the stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the completion of the acquisition, the chief executive officer now owns 1,087 shares of the company's stock, valued at $25,001. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Eagle Point Credit Price Performance
Shares of Eagle Point Credit stock opened at $7.92 on Friday. The firm has a market cap of $609.04 million, a PE ratio of 9.42 and a beta of 0.73. The business has a 50-day moving average price of $8.64 and a 200 day moving average price of $9.16. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a twelve month low of $7.36 and a twelve month high of $10.49.
Eagle Point Credit (NYSE:ECC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). The company had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. Sell-side analysts predict that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.
Eagle Point Credit Announces Dividend
The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit's dividend payout ratio (DPR) is presently 200.00%.
Institutional Investors Weigh In On Eagle Point Credit
Several institutional investors have recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new position in shares of Eagle Point Credit during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Eagle Point Credit during the third quarter worth approximately $39,000. Transce3nd LLC acquired a new position in Eagle Point Credit in the 4th quarter valued at $45,000. McIlrath & Eck LLC purchased a new position in Eagle Point Credit in the 3rd quarter valued at $57,000. Finally, Ameriflex Group Inc. acquired a new stake in Eagle Point Credit during the 4th quarter worth $70,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, B. Riley lowered their target price on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th.
Check Out Our Latest Report on ECC
Eagle Point Credit Company Profile
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
