EAGLE POINT CR/COM (ECC) Sets New 52-Week Low at $16.07

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EAGLE POINT CR/COM (NYSE:ECC)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.07 and last traded at $16.44, with a volume of 1553 shares changing hands. The stock had previously closed at $16.59.

A number of equities analysts have recently issued reports on the stock. National Securities restated a “buy” rating and issued a $24.00 price objective on shares of EAGLE POINT CR/COM in a research note on Thursday, November 15th. CIBC restated a “market perform” rating on shares of EAGLE POINT CR/COM in a research note on Thursday, November 15th. Finally, Oppenheimer cut shares of EAGLE POINT CR/COM from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.00.

The firm has a market capitalization of $310.18 million, a price-to-earnings ratio of 8.72 and a beta of 0.25.

The company also recently announced a monthly dividend, which will be paid on Monday, December 31st. Stockholders of record on Thursday, December 13th will be issued a $0.20 dividend. This represents a $2.40 annualized dividend and a dividend yield of 14.63%. The ex-dividend date of this dividend is Wednesday, December 12th. EAGLE POINT CR/COM’s payout ratio is 127.66%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in shares of EAGLE POINT CR/COM in the 3rd quarter worth about $140,000. B. Riley Financial Inc. bought a new stake in shares of EAGLE POINT CR/COM in the 3rd quarter worth about $999,000. Evercore Wealth Management LLC bought a new stake in shares of EAGLE POINT CR/COM in the 3rd quarter worth about $299,000. Penn Mutual Asset Management LLC bought a new stake in shares of EAGLE POINT CR/COM in the 3rd quarter worth about $1,315,000. Finally, National Asset Management Inc. grew its holdings in shares of EAGLE POINT CR/COM by 438.7% in the 3rd quarter. National Asset Management Inc. now owns 127,171 shares of the investment management company’s stock worth $2,277,000 after purchasing an additional 103,562 shares during the last quarter. 47.75% of the stock is currently owned by institutional investors and hedge funds.

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EAGLE POINT CR/COM Company Profile (NYSE:ECC)

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.

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