Worth Asset Management LLC Trims Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Worth Asset Management LLC reduced its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 45.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,733 shares of the investment management company’s stock after selling 29,914 shares during the quarter. Worth Asset Management LLC’s holdings in Eagle Point Credit were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ballentine Partners LLC grew its holdings in shares of Eagle Point Credit by 5.3% in the third quarter. Ballentine Partners LLC now owns 23,158 shares of the investment management company’s stock valued at $228,000 after purchasing an additional 1,173 shares during the period. Rockefeller Capital Management L.P. grew its stake 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 valued at $763,000 after buying an additional 2,112 shares during the period. Webster Bank N. A. purchased a new stake in shares of Eagle Point Credit in the 3rd quarter valued at approximately $28,000. Sage Capital Advisors llc increased its holdings in shares of Eagle Point Credit by 6.5% during the 3rd quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock worth $482,000 after buying an additional 2,986 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Eagle Point Credit by 32.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 14,273 shares of the investment management company’s stock valued at $141,000 after buying an additional 3,491 shares during the period. 19.50% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Trading Up 0.1 %

NYSE ECC traded up $0.01 during trading hours on Wednesday, reaching $9.08. The company had a trading volume of 355,559 shares, compared to its average volume of 817,143. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $698.69 million, a P/E ratio of 11.35 and a beta of 0.75. The stock has a 50-day moving average of $9.16 and a 200 day moving average of $9.63. Eagle Point Credit Company Inc. has a 1-year low of $8.56 and a 1-year high of $10.49.

Eagle Point Credit Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.