Eagle Point Income (NYSE:EIC) Upgraded to “Hold” at Zacks Research
by Tristan Rich · The Markets DailyEagle Point Income (NYSE:EIC – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Separately, B. Riley decreased their price target on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $14.00.
Read Our Latest Report on Eagle Point Income
Eagle Point Income Stock Down 0.6%
NYSE:EIC opened at $11.11 on Monday. The business’s 50-day moving average price is $11.32 and its two-hundred day moving average price is $12.44. Eagle Point Income has a twelve month low of $10.81 and a twelve month high of $16.23.
Eagle Point Income (NYSE:EIC – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03.
Hedge Funds Weigh In On Eagle Point Income
Several hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc boosted its holdings in shares of Eagle Point Income by 97.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,322 shares of the company’s stock valued at $45,000 after buying an additional 1,639 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Eagle Point Income by 3.6% during the third quarter. Raymond James Financial Inc. now owns 48,471 shares of the company’s stock worth $652,000 after acquiring an additional 1,701 shares in the last quarter. Cetera Investment Advisers grew its holdings in Eagle Point Income by 17.8% in the second quarter. Cetera Investment Advisers now owns 14,369 shares of the company’s stock worth $196,000 after purchasing an additional 2,170 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Eagle Point Income by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 99,584 shares of the company’s stock valued at $1,361,000 after purchasing an additional 2,754 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Eagle Point Income during the second quarter valued at approximately $79,000.
Eagle Point Income Company Profile
Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.
The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.