Eagle Point Credit (NYSE:ECC) Downgraded to “Neutral” Rating by LADENBURG THALM/SH SH

Eagle Point Credit (NYSE:ECC) was downgraded by equities research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday.

A number of other research firms also recently weighed in on ECC. Credit Suisse Group set a $5.00 price target on Eagle Point Credit in a research report on Wednesday, February 18th. Zacks Research raised shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, B. Riley Financial decreased their target price on shares of Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Eagle Point Credit presently has an average rating of “Moderate Buy” and an average target price of $7.13.

Eagle Point Credit Stock Up 1.9%

ECC traded up $0.08 during trading on Monday, hitting $4.11. The company had a trading volume of 765,680 shares, compared to its average volume of 2,605,179. The firm’s 50-day moving average price is $5.25 and its 200 day moving average price is $6.03. The company has a market capitalization of $518.97 million, a PE ratio of 21.62 and a beta of 0.28. Eagle Point Credit has a one year low of $3.85 and a one year high of $8.86.

Institutional Investors Weigh In On Eagle Point Credit

A number of large investors have recently modified their holdings of the business. North Ground Capital bought a new stake in shares of Eagle Point Credit during the 3rd quarter worth $4,186,000. International Assets Investment Management LLC raised its stake in Eagle Point Credit by 40.7% during the third quarter. International Assets Investment Management LLC now owns 423,570 shares of the investment management company’s stock worth $2,800,000 after acquiring an additional 122,470 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Eagle Point Credit by 10.6% in the second quarter. J.W. Cole Advisors Inc. now owns 294,869 shares of the investment management company’s stock worth $2,259,000 after acquiring an additional 28,354 shares during the last quarter. Samalin Investment Counsel LLC boosted its stake in shares of Eagle Point Credit by 27.6% in the 3rd quarter. Samalin Investment Counsel LLC now owns 84,531 shares of the investment management company’s stock valued at $559,000 after purchasing an additional 18,297 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of Eagle Point Credit during the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Company Profile

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.