Sage Capital Advisors llc Decreases Stock Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Sage Capital Advisors llc reduced its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 22.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,735 shares of the investment management company’s stock after selling 11,188 shares during the period. Sage Capital Advisors llc’s holdings in Eagle Point Credit were worth $335,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. McIlrath & Eck LLC purchased a new stake in Eagle Point Credit in the 3rd quarter worth approximately $57,000. Legacy Investment Solutions LLC purchased a new stake in Eagle Point Credit in the third quarter worth $39,000. Stifel Financial Corp bought a new stake in Eagle Point Credit in the third quarter valued at $149,000. Rockefeller Capital Management L.P. increased its position in Eagle Point Credit by 2.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after purchasing an additional 2,112 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in Eagle Point Credit by 10.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 91,924 shares of the investment management company’s stock worth $889,000 after purchasing an additional 8,719 shares in the last quarter. 19.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley cut their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday.

Eagle Point Credit Stock Down 0.2 %

Shares of NYSE ECC traded down $0.02 during mid-day trading on Friday, hitting $9.10. 790,591 shares of the stock traded hands, compared to its average volume of 857,268. Eagle Point Credit Company Inc. has a 52 week low of $8.56 and a 52 week high of $10.49. The company has a market cap of $700.23 million, a price-to-earnings ratio of 11.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The stock has a fifty day moving average price of $9.15 and a 200-day moving average price of $9.62.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s payout ratio is currently 210.00%.

About Eagle Point Credit

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.