Brown Brothers Harriman & Co. Takes $93,000 Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Brown Brothers Harriman & Co. purchased a new position in Eagle Point Credit Company Inc. (NYSE:ECC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,478 shares of the investment management company’s stock, valued at approximately $93,000.

A number of other hedge funds also recently bought and sold shares of ECC. Rockefeller Capital Management L.P. increased its holdings in shares of Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock worth $763,000 after buying an additional 2,112 shares during the last quarter. Stifel Financial Corp bought a new stake in Eagle Point Credit during the third quarter worth approximately $149,000. Legacy Investment Solutions LLC bought a new stake in shares of Eagle Point Credit in the 3rd quarter valued at approximately $39,000. McIlrath & Eck LLC purchased a new position in shares of Eagle Point Credit in the 3rd quarter worth approximately $57,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Eagle Point Credit by 35.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company’s stock worth $447,000 after purchasing an additional 13,067 shares during the period. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC opened at $8.20 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a 12 month low of $7.36 and a 12 month high of $10.49. The company has a market capitalization of $630.59 million, a price-to-earnings ratio of 9.76 and a beta of 0.73. The firm’s 50-day moving average is $8.52 and its 200 day moving average is $9.06.

Eagle Point Credit (NYSE:ECC) last released its earnings results on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. The business had revenue of $49.55 million for the quarter, compared to the consensus estimate of $49.76 million. Research analysts predict that Eagle Point Credit Company Inc. will post 1.1 EPS for the current year.

Eagle Point Credit Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit’s dividend payout ratio (DPR) is 200.00%.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price target on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Insider Transactions at Eagle Point Credit

In related news, CEO Thomas P. Majewski purchased 1,087 shares of Eagle Point Credit stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $23.00 per share, with a total value of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares of the company’s stock, valued at approximately $25,001. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

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.