Eagle Point Credit (NYSE:ECC) Sees Unusually-High Trading Volume – Should You Buy?

Eagle Point Credit Company Inc. (NYSE:ECC) shares saw an uptick in trading volume on Monday . 448,904 shares traded hands during trading, a decline of 46% from the previous session’s volume of 830,740 shares.The stock last traded at $9.68 and had previously closed at $9.77.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th.

Eagle Point Credit Trading Down 0.4 %

The stock has a market cap of $748.70 million, a P/E ratio of 5.25 and a beta of 0.76. The business’s 50 day simple moving average is $9.86 and its 200 day simple moving average is $10.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.98 and a quick ratio of 2.98.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Tuesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). Eagle Point Credit had a return on equity of 12.87% and a net margin of 76.61%. The company had revenue of $42.28 million for the quarter, compared to the consensus estimate of $45.67 million. On average, analysts expect that Eagle Point Credit Company Inc. will post 1.11 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be issued a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 17.27%. The ex-dividend date is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio is currently 90.32%.

Institutional Trading of Eagle Point Credit

Hedge funds have recently modified their holdings of the company. Webster Bank N. A. acquired a new stake in shares of Eagle Point Credit in the third quarter valued at $28,000. NBC Securities Inc. acquired a new stake in Eagle Point Credit in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC bought a new position in shares of Eagle Point Credit in the second quarter worth about $60,000. Sunbelt Securities Inc. lifted its position in shares of Eagle Point Credit by 646.4% during the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock worth $75,000 after purchasing an additional 6,464 shares in the last quarter. Finally, CFO4Life Group LLC acquired a new position in shares of Eagle Point Credit during the first quarter worth approximately $105,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Company Profile

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.