Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Down 11.0% in March

Eagle Point Credit Company Inc. (NYSE:ECC) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 236,400 shares, a decline of 11.0% from the March 15th total of 265,700 shares. Based on an average daily trading volume, of 699,100 shares, the days-to-cover ratio is currently 0.3 days.

Eagle Point Credit Price Performance

Eagle Point Credit stock traded down $0.03 during midday trading on Tuesday, hitting $9.92. 690,946 shares of the company’s stock were exchanged, compared to its average volume of 709,220. Eagle Point Credit has a 52-week low of $8.60 and a 52-week high of $11.79. The stock has a 50-day moving average price of $10.06 and a two-hundred day moving average price of $9.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.60 and a current ratio of 6.60. The company has a market cap of $545.82 million, a P/E ratio of 5.58 and a beta of 0.77.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Thursday, February 22nd. The investment management company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). Eagle Point Credit had a return on equity of 14.27% and a net margin of 84.05%. The business had revenue of $39.39 million for the quarter, compared to analysts’ expectations of $39.10 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, equities research analysts forecast that Eagle Point Credit will post 1.39 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 16.94%. The ex-dividend date of this dividend is Monday, June 10th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 94.38%.

Institutional Investors Weigh In On Eagle Point Credit

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Eagle Point Credit by 492.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,843 shares of the investment management company’s stock worth $31,000 after purchasing an additional 2,363 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Eagle Point Credit in the 1st quarter valued at about $31,000. Money Concepts Capital Corp bought a new stake in shares of Eagle Point Credit in the 4th quarter valued at about $50,000. UBS Group AG lifted its stake in shares of Eagle Point Credit by 20.8% in the 2nd quarter. UBS Group AG now owns 9,066 shares of the investment management company’s stock valued at $106,000 after acquiring an additional 1,559 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Eagle Point Credit by 21.2% in the 1st quarter. Bank of America Corp DE now owns 9,933 shares of the investment management company’s stock valued at $131,000 after acquiring an additional 1,740 shares during the last quarter. 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.