Griping Stock: Eagle Point Credit Company Inc. (NYSE: ECC)

Eagle Point Credit Company Inc (ECC) recently reported financial outcomes for the quarter ended June 30, 2019, net possession worth as of June 30, 2019 and particular portfolio activity through August 8, 2019.

On 06 Sep 2019, Eagle Point Credit Company Inc. (NYSE: ECC) negotiated 175,515 shares against it a typical volume of 223,417 shares. The stock concluded the current trade at $16.53 with upbeat/downbeat trend moved of -0.90%. The daily trading variety was observed in between a days low price of $16.30 to a days high cost of $16.70.

SECOND QUARTER 2019 HIGHLIGHTS

Net investment income (” NII”) and recognized capital losses of $0.07 per weighted typical ordinary share1for the second quarter of 2019, consisting of NII of $0.36 per weighted typical common share offset by recognized capital losses of $0.29 per weighted typical regular share.
NAV per common share of $13.45 since June 30, 2019.
2nd quarter 2019 GAAP net earnings (inclusive of unrealized mark-to-market losses) of $1.6 M, or $0.06 per weighted average ordinary share.
Weighted average reliable yield of the Companys collateralized loan obligation (” CLO”) equity portfolio (not including called CLOs) was 13.49% as of June 30, 2019.
Deployed $60.9 M in gross capital, received $36.8 M in proceeds from the sale of investments and received $26.0 M in repeating money distributions from the Companys investment portfolio in the second quarter of 2019, which excludes profits from called financial investments. Consisting of proceeds from called financial investments, the Company got cash circulations of $46.8 M over the exact same duration.
Issued 2,100,836 shares of regular stock at a premium to NAV during the 2nd quarter for total net earnings to the Company of about $35.5 M pursuant to the Companys “at-the-market” offering program.

On 06 Sep 2019, Eagle Point Credit Company Inc. (NYSE: ECC) worked out 175,515 shares versus it an average volume of 223,417 shares. During the quarter ended June 30, 2019, the Company deployed $60.9 M in gross capital and $24.1 M in net capital. The weighted typical efficient yield of new CLO equity financial investments made by the Company during the quarter, which consists of an arrangement for credit losses, was 15.36% as measured at the time of investment. In addition, throughout the quarter, the Company got $36.8 M of profits from the sale of investments and converted 3 of its existing loan build-up facilities into CLOs.

SECOND QUARTER 2019 RESULTS
The Companys NII web of understood capital losses for the quarter ended June 30, 2019 was $0.07 per weighted typical ordinary share. This contrast to $0.36 per weighted average ordinary share for the quarter ended March 31, 2019, and $0.34 per weighted average regular share for the quarter ended June 30, 2018.
The Companys NII web of realized capital losses for the quarter ended June 30, 2019 consisted of NII of $0.36 per weighted average ordinary share and realized capital losses of $0.29 per weighted typical normal share. Recognized capital losses for the quarter showed $0.15 per weighted typical normal share related to the accounting treatment of a CLO that carried out a “call and roll” transaction, $0.12 per weighted average regular share associated with losses from the personality of investments and the write-off of recurring amortized expense of called CLOs, and $0.02 per weighted typical regular share of a non-recurring loss connected to the velocity of unamortized issuance expense related to the partial redemption of the Series A Term Preferred Stock.
For the quarter ended June 30, 2019, the Company recorded GAAP net earnings of $1.6 M, or $0.06 per weighted average common share. Net earnings was made up of overall financial investment earnings of $17.3 M, partly balanced out by total expenditures of $8.4 M, net recognized capital losses on financial investments and extinguishment of debt of $7.2 M, and net latent devaluation (or latent mark-to-market losses on financial investments and liabilities at reasonable worth) of $0.1 M.
NAV since June 30, 2019 was $346.8 M, or $13.45 per normal share, which is $0.25 per regular share lower than the Companys NAV since March 31, 2019, and $3.06 per ordinary share lower than the Companys NAV as of June 30, 2018.
During the quarter ended June 30, 2019, the Company deployed $60.9 M in gross capital and $24.1 M in net capital. The weighted average effective yield of brand-new CLO equity financial investments made by the Company during the quarter, that includes an arrangement for credit losses, was 15.36% as determined at the time of financial investment. Additionally, during the quarter, the Company got $36.8 M of proceeds from the sale of financial investments and converted 3 of its existing loan build-up facilities into CLOs.
ECC plunged -0.72% in past week and down -16.24% in one month. During the twelve month it reduced -25.71% and year to date efficiency of -20.69%.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Charlie Vanburen

Charlie Vanburen – Technology I am known as Charlie Vanburen, I am a writer and an industrialist by profession. My age is 31 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together