In a report released today, Chris Kotowski from Oppenheimer maintained a Hold rating on Eagle Point Credit Company Inc (ECC). The company’s shares opened today at $16.91.
Kotowski commented:
“We continue to be fans of the CLO equity asset class and continue to think that ECC remains the best-managed public vehicle through which investors can get exposure to it. We like CLO equity because it is a secure, match-term-funded vehicle in which to compartmentalize the credit risk component of leveraged loans (which we also think are an underappreciated asset class) away from funding and interest rate risk. Moreover, CLO equity has an excellent track record with 96% of the 2002-11 vintages showing positive returns averaging ~15%. That said, CLOs are complex, structured vehicles in which cash flows, GAAP earnings and taxable income all differ markedly.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 10.6% and a 62.7% success rate. Kotowski covers the Financial sector, focusing on stocks such as Goldman Sachs Group Inc, The RMR Group Inc, and Bank of America.
Eagle Point Credit Company Inc has an analyst consensus of Hold.
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The company has a one-year high of $19 and a one-year low of $12.16. Currently, Eagle Point Credit Company Inc has an average volume of 170.3K.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECC in relation to earlier this year.
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