EAGLE POINT CR/COM (NYSE:ECC) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday, ValuEngine reports.

Separately, National Securities restated a “buy” rating and issued a $24.00 price target on shares of EAGLE POINT CR/COM in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $24.00.

Shares of NYSE:ECC traded down $0.22 on Wednesday, hitting $16.17. 115,766 shares of the company’s stock were exchanged, compared to its average volume of 185,978. The stock has a market capitalization of $387.62 million, a price-to-earnings ratio of 10.17 and a beta of 0.59. EAGLE POINT CR/COM has a 12 month low of $12.16 and a 12 month high of $19.41. The business’s 50 day simple moving average is $16.88 and its two-hundred day simple moving average is $17.30.

Several large investors have recently modified their holdings of ECC. Mid Atlantic Financial Management Inc. ADV bought a new stake in shares of EAGLE POINT CR/COM during the first quarter valued at approximately $215,000. Cambridge Investment Research Advisors Inc. increased its holdings in EAGLE POINT CR/COM by 13.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,136 shares of the investment management company’s stock worth $452,000 after purchasing an additional 3,189 shares during the period. Thomas J. Herzfeld Advisors Inc. raised its position in EAGLE POINT CR/COM by 110.2% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 136,268 shares of the investment management company’s stock valued at $2,267,000 after purchasing an additional 71,450 shares in the last quarter. Wiley BROS. Aintree Capital LLC bought a new stake in EAGLE POINT CR/COM during the 2nd quarter valued at $686,000. Finally, NEXT Financial Group Inc lifted its holdings in shares of EAGLE POINT CR/COM by 954.2% in the 2nd quarter. NEXT Financial Group Inc now owns 25,300 shares of the investment management company’s stock worth $453,000 after buying an additional 22,900 shares during the period. 36.21% of the stock is currently owned by institutional investors and hedge funds.

About EAGLE POINT CR/COM

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.

Further Reading: Convertible Shares

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