Eagle Point Credit (NYSE:ECC) Given New $11.00 Price Target at B. Riley

Eagle Point Credit (NYSE:ECC) had its target price cut by equities researchers at B. Riley from $12.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the investment management company’s stock. B. Riley’s target price points to a potential upside of 20.48% from the stock’s current price.

Eagle Point Credit Stock Down 0.1 %

Shares of NYSE ECC opened at $9.13 on Tuesday. Eagle Point Credit has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a market cap of $702.54 million, a P/E ratio of 11.41 and a beta of 0.75. 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 fifty day moving average price of $9.17 and a 200 day moving average price of $9.64.

Institutional Trading of Eagle Point Credit

Several large investors have recently modified their holdings of the business. Ballentine Partners LLC grew its stake in shares of Eagle Point Credit by 5.3% during the third quarter. Ballentine Partners LLC now owns 23,158 shares of the investment management company’s stock valued at $228,000 after acquiring an additional 1,173 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Eagle Point Credit by 2.8% during the third quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after acquiring an additional 2,112 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Eagle Point Credit during the third quarter valued at about $28,000. Sage Capital Advisors llc grew its stake in shares of Eagle Point Credit by 6.5% during the third quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock valued at $482,000 after acquiring an additional 2,986 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its stake in shares of Eagle Point Credit by 32.4% during the third quarter. Atomi Financial Group Inc. now owns 14,273 shares of the investment management company’s stock valued at $141,000 after acquiring an additional 3,491 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors and hedge funds.

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.