Naviter Wealth LLC Has $163,000 Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Naviter Wealth LLC cut its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 9.6% during the third quarter, Holdings Channel reports. The fund owned 16,500 shares of the investment management company’s stock after selling 1,750 shares during the quarter. Naviter Wealth LLC’s holdings in Eagle Point Credit were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Oxinas Partners Wealth Management LLC increased its holdings in shares of Eagle Point Credit by 44.0% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock worth $1,750,000 after acquiring an additional 54,240 shares during the last quarter. Webster Bank N. A. acquired a new position in shares of Eagle Point Credit during the 3rd quarter worth approximately $28,000. Worth Asset Management LLC grew its holdings in Eagle Point Credit by 359.7% in the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock valued at $647,000 after buying an additional 51,367 shares in the last quarter. Sage Capital Advisors llc grew its holdings in Eagle Point Credit by 6.5% in the 3rd quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock valued at $482,000 after buying an additional 2,986 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in Eagle Point Credit by 32.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 14,273 shares of the investment management company’s stock valued at $141,000 after buying an additional 3,491 shares in the last quarter. 19.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price objective on 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 Stock Performance

Shares of NYSE ECC opened at $9.70 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.98 and a quick ratio of 2.98. The stock’s fifty day moving average price is $9.85 and its two-hundred day moving average price is $10.01. Eagle Point Credit Company Inc. has a one year low of $8.60 and a one year high of $10.49. The firm has a market cap of $746.40 million, a price-to-earnings ratio of 5.22 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings data on Tuesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. The firm had revenue of $42.28 million during the quarter, compared to analyst estimates of $45.67 million. On average, equities analysts forecast that Eagle Point Credit Company Inc. will post 1.11 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 17.32%. The ex-dividend date of this dividend is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 90.32%.

Eagle Point Credit 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.