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In a recent transaction, Kenneth Onorio, the Chief Financial Officer and Chief Operating Officer of Eagle Point Credit Co Inc. (NYSE:ECC), acquired 6,250 shares of the company’s common stock. The shares were purchased at a price of $8.00 each, totaling $50,000. The purchase comes as the stock trades near its 52-week low of $8.02, with a current market capitalization of $887 million and a P/E ratio of 10.35. According to InvestingPro analysis, the stock’s RSI suggests oversold territory. This acquisition increases Onorio’s direct ownership to 75,883 shares, which includes shares acquired through the company’s dividend reinvestment plan.
Additionally, Onorio holds 1,005 shares indirectly in accounts for the benefit of his children, over which he maintains investment authority. However, he disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest.
These transactions, filed with the Securities and Exchange Commission, provide insight into the financial activities and interests of Eagle Point Credit’s senior management. The company has demonstrated strong financial health with liquid assets exceeding short-term obligations and has delivered robust returns over the past five years.
In other recent news, Eagle Point Credit Co Inc. announced its estimated net asset value (NAV) per share of common stock as of February 28, 2025, ranging between $7.97 and $8.07. The company also disclosed a prior NAV estimate for January 31, 2025, between $8.28 and $8.38, alongside monthly distributions of $0.14 per share set for April, May, and June 2025. Additionally, Eagle Point Credit reported its estimated NAV per share for December 31, 2024, ranging from $8.33 to $8.43, with net investment income estimated between $0.23 and $0.27 per share for the same quarter. Keefe, Bruyette & Woods (KBW) recently adjusted Eagle Point Credit’s stock target from $9.50 to $9.00, maintaining a Market Perform rating, citing a slight miss in net investment income due to decreased collateralized loan obligation income. Despite this, the company’s cash flows were sufficient to cover its dividend payments. The company’s leverage ratios have increased, with a debt-to-equity ratio of 0.54x and a debt-to-assets ratio slightly exceeding the target at 0.38x. These developments reflect Eagle Point Credit’s ongoing financial adjustments and strategic decisions in the investment market.
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