Eagle Point Credit Company Inc (ECC) was Reiterated by Compass Point to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 17 from a previous price target of $15 . Compass Point advised their investors in a research report released on Aug 25, 2016.
In a different news, on Jun 21, 2016, Thomas P. Majewski (CEO) purchased 1,000 shares at $16.47 per share price. According to the SEC, on Jun 21, 2016, Kevin F. Mcdonald (director) purchased 1,450 shares at $16.56 per share price. On Mar 16, 2016, Kenneth P. Onorio (CFO) purchased 1,600 shares at $15.67 per share price, according to the Form-4 filing with the securities and exchange commission.
Eagle Point Credit Company Inc. is a non-diversified closed end investment company. The Company’s primary investment objective is to generate high current income with a secondary objective to generate capital appreciation. It seeks to invest in equity and junior debt tranches of collateralized loan obligations (CLOs) with a portfolio of below investment grade United States senior secured loans. The CLO securities in which it will seek to invest are considered speculative with respect to timely payment of interest and repayment of principal. It may also invest in other securities and instruments related to these investments. It invests in various industries such as business equipment and services health care electronics/electrical leisure goods/activities/movies oil and gas lodging and casinos telecommunications financial intermediaries chemicals and plastics and retailers (except food and drug). Eagle Point Credit Management LLC is the investment advisor of the Company.