Eagle Point Income (NYSE:EIC) Stock Rating Upgraded by B. Riley

Eagle Point Income (NYSE:EIC) was upgraded by equities researchers at B. Riley to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Eagle Point Income Stock Performance

Eagle Point Income stock opened at $16.25 on Tuesday. The firm has a 50-day moving average of $15.74 and a 200-day moving average of $15.78. Eagle Point Income has a one year low of $14.78 and a one year high of $16.75.

Institutional Investors Weigh In On Eagle Point Income

A number of institutional investors have recently made changes to their positions in the company. Webster Bank N. A. bought a new stake in shares of Eagle Point Income during the 3rd quarter valued at $44,000. Graypoint LLC lifted its position in Eagle Point Income by 4.0% during the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after purchasing an additional 6,325 shares during the period. Main Street Financial Solutions LLC bought a new stake in Eagle Point Income during the second quarter worth about $160,000. Finally, Virtu Financial LLC acquired a new stake in Eagle Point Income during the third quarter worth about $216,000.

Eagle Point Income Company Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.