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

Eagle Point Credit (NYSE:ECC) had its price target decreased by stock analysts at B. Riley from $12.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. B. Riley’s price target indicates a potential upside of 20.48% from the company’s previous close.

Eagle Point Credit Stock Performance

Shares of ECC stock opened at $9.13 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. Eagle Point Credit has a one year low of $8.56 and a one year high of $10.49. The company’s 50-day simple moving average is $9.17 and its 200-day simple moving average is $9.64. The stock has a market capitalization of $702.54 million, a price-to-earnings ratio of 11.41 and a beta of 0.75.

Hedge Funds Weigh In On Eagle Point Credit

Large investors have recently bought and sold shares of the business. Webster Bank N. A. bought a new position in Eagle Point Credit in the third quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in Eagle Point Credit in the third quarter worth about $39,000. McIlrath & Eck LLC bought a new position in Eagle Point Credit in the third quarter worth about $57,000. EverSource Wealth Advisors LLC bought a new position in Eagle Point Credit in the second quarter worth about $60,000. Finally, Sunbelt Securities Inc. lifted its holdings in Eagle Point Credit by 646.4% in the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock worth $75,000 after acquiring an additional 6,464 shares during the last quarter. Institutional investors own 19.50% of the company’s stock.

About Eagle Point Credit

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.