Fintel reports that on September 12, 2023, B. Riley Securities reiterated coverage of Eagle Point Credit (NYSE:ECC) with a Buy recommendation.
Analyst Price Forecast Suggests 14.12% Upside
As of August 31, 2023, the average one-year price target for Eagle Point Credit is 11.56. The forecasts range from a low of 10.60 to a high of $12.60. The average price target represents an increase of 14.12% from its latest reported closing price of 10.13.
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The projected annual revenue for Eagle Point Credit is 134MM, an increase of 6.00%. The projected annual non-GAAP EPS is 1.58.
What is the Fund Sentiment?
There are 73 funds or institutions reporting positions in Eagle Point Credit. This is an increase of 5 owner(s) or 7.35% in the last quarter. Average portfolio weight of all funds dedicated to ECC is 0.20%, an increase of 34.60%. Total shares owned by institutions increased in the last three months by 6.36% to 8,906K shares.
What are Other Shareholders Doing?
Stone Point Capital holds 5,823K shares. No change in the last quarter.
Bard Associates holds 268K shares. In it's prior filing, the firm reported owning 269K shares, representing a decrease of 0.36%. The firm decreased its portfolio allocation in ECC by 14.89% over the last quarter.
UBS Group holds 219K shares. In it's prior filing, the firm reported owning 12K shares, representing an increase of 94.74%. The firm increased its portfolio allocation in ECC by 1,911.99% over the last quarter.
Royal Bank Of Canada holds 195K shares. In it's prior filing, the firm reported owning 192K shares, representing an increase of 1.58%. The firm increased its portfolio allocation in ECC by 688.26% over the last quarter.
Cresset Asset Management holds 161K shares. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Eagle Point Credit Background Information
(This description is provided by the company.)
The 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, primarily through investment in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC.
Additional reading:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE ¨ Check if an Application to Determine Eligibility of a Trus
- EAGLE POINT CREDIT COMPANY INC. COMMON STOCK, PAR VALUE $0.001 PER SHARE 6.50% SERIES C TERM PREFERRED STOCK DUE 2031, PAR VALUE $0.001 PER SHARE AND LIQUIDATION PREFERENCE $25 PER SHARE 6.75% SERIES D PREFERRED STOCK, PAR VALUE $0.001 PER SHARE AND
- ECC / Eagle Point Credit Company Inc / TRIDENT V, L.P. - EX-99.B
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