Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Update

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 78,900 shares, an increase of 91.0% from the February 13th total of 41,300 shares. Based on an average daily volume of 248,500 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Eagle Point Income

Hedge funds have recently made changes to their positions in the business. Cresset Asset Management LLC purchased a new stake in shares of Eagle Point Income during the 4th quarter valued at about $207,000. Virtu Financial LLC bought a new position in Eagle Point Income during the 3rd quarter valued at about $216,000. Mariner LLC bought a new position in Eagle Point Income during the 4th quarter valued at about $275,000. LPL Financial LLC grew its holdings in Eagle Point Income by 14.3% during the 4th quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock valued at $435,000 after purchasing an additional 3,504 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Eagle Point Income during the 4th quarter valued at about $842,000.

Analyst Ratings Changes

Several brokerages have commented on EIC. B. Riley upgraded shares of Eagle Point Income to a “strong-buy” rating in a research note on Tuesday, January 7th. LADENBURG THALM/SH SH upgraded shares of Eagle Point Income to a “strong-buy” rating in a research note on Thursday, January 16th.

Eagle Point Income Stock Down 0.7 %

EIC stock traded down $0.11 during mid-day trading on Friday, hitting $15.23. The company had a trading volume of 233,305 shares, compared to its average volume of 185,708. The company has a 50-day moving average price of $15.82 and a 200 day moving average price of $15.80. Eagle Point Income has a 12-month low of $14.78 and a 12-month high of $16.75.

Eagle Point Income (NYSE:EIC) last announced its earnings results on Thursday, February 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). The firm had revenue of $13.67 million for the quarter, compared to analysts’ expectations of $13.54 million.

Eagle Point Income Dividend Announcement

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 $0.20 per share. The ex-dividend date is Thursday, April 10th.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.