Bard Associates Inc. Sells 11,353 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Bard Associates Inc. reduced its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,503 shares of the investment management company’s stock after selling 11,353 shares during the quarter. Bard Associates Inc. owned about 0.29% of Eagle Point Credit worth $2,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ECC. Webster Bank N. A. purchased a new stake in shares of Eagle Point Credit during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC bought a new position in Eagle Point Credit in the second quarter valued at $60,000. Sunbelt Securities Inc. raised its position in Eagle Point Credit by 646.4% during the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock valued at $75,000 after purchasing an additional 6,464 shares in the last quarter. Stephens Inc. AR bought a new stake in Eagle Point Credit during the third quarter worth about $99,000. Finally, Silverleafe Capital Partners LLC purchased a new position in shares of Eagle Point Credit in the 2nd quarter worth about $109,000. 19.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods decreased their price objective on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th.

Eagle Point Credit Price Performance

Shares of Eagle Point Credit stock opened at $9.27 on Friday. The stock has a market capitalization of $713.33 million, a price-to-earnings ratio of 5.42 and a beta of 0.76. The company has a fifty day moving average of $9.75 and a 200-day moving average of $9.95. Eagle Point Credit Company Inc. has a 52-week low of $8.94 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 2.98.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.68 annualized dividend and a dividend yield of 18.12%. Eagle Point Credit’s dividend payout ratio is currently 98.25%.

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.