Eagle Point Credit (NYSE:ECC) Releases Earnings Results, Misses Estimates By $0.06 EPS

Eagle Point Credit (NYSE:ECC) released its earnings results on Tuesday. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06), reports. Eagle Point Credit had a net margin of 88.90% and a return on equity of 14.21%. The business had revenue of $40.81 million during the quarter, compared to the consensus estimate of $42.30 million.

Eagle Point Credit Trading Down 0.8 %

Shares of ECC opened at $10.19 on Friday. Eagle Point Credit has a fifty-two week low of $8.60 and a fifty-two week high of $10.95. The business has a 50-day moving average of $10.10 and a 200 day moving average of $9.89. The firm has a market cap of $783.74 million, a P/E ratio of 5.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.60 and a current ratio of 6.60.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 16.49%. The ex-dividend date of this dividend is Tuesday, September 10th. Eagle Point Credit’s dividend payout ratio is currently 90.32%.

Institutional Investors Weigh In On Eagle Point Credit

Several institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. purchased a new position in shares of Eagle Point Credit during the first quarter worth about $31,000. Black Swift Group LLC grew its stake in Eagle Point Credit by 970.9% in the 3rd quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company’s stock worth $96,000 after buying an additional 881,570 shares in the last quarter. Nadler Financial Group Inc. purchased a new stake in shares of Eagle Point Credit during the 1st quarter valued at $101,000. CFO4Life Group LLC bought a new stake in shares of Eagle Point Credit during the 1st quarter worth $105,000. Finally, J.W. Cole Advisors Inc. purchased a new position in Eagle Point Credit in the first quarter worth $114,000. Hedge funds and other institutional investors 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.