Ellington Financial (NYSE:EFC)‘s stock had its “neutral” rating restated by stock analysts at Keefe, Bruyette & Woods in a report released on Friday.
EFC has been the topic of several other research reports. Maxim Group reiterated a “buy” rating and set a $19.00 price target on shares of Ellington Financial in a research report on Tuesday, January 9th. ValuEngine upgraded shares of Ellington Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. B. Riley downgraded shares of Ellington Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $17.50 to $16.00 in a research report on Wednesday, November 8th. Deutsche Bank reduced their price target on shares of Ellington Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of Ellington Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.25.
Shares of Ellington Financial (EFC) remained flat at $$15.18 during midday trading on Friday. The stock had a trading volume of 74,746 shares, compared to its average volume of 106,766. The firm has a market cap of $484.33, a price-to-earnings ratio of 14.46 and a beta of 0.36. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90. Ellington Financial has a one year low of $14.19 and a one year high of $17.00.
Ellington Financial declared that its board has initiated a share repurchase plan on Tuesday, February 13th that allows the company to buyback 1,550,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Ellington Financial by 24.0% during the 2nd quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after purchasing an additional 294,734 shares during the period. BBR Partners LLC lifted its position in Ellington Financial by 45.9% during the 4th quarter. BBR Partners LLC now owns 1,208,757 shares of the financial services provider’s stock valued at $17,539,000 after purchasing an additional 380,000 shares during the period. Ranger Global Real Estate Advisors LLC lifted its position in Ellington Financial by 1.4% during the 4th quarter. Ranger Global Real Estate Advisors LLC now owns 686,512 shares of the financial services provider’s stock valued at $9,961,000 after purchasing an additional 9,450 shares during the period. Global X MANAGEMENT CO LLC lifted its position in Ellington Financial by 5.7% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 526,255 shares of the financial services provider’s stock valued at $8,310,000 after purchasing an additional 28,233 shares during the period. Finally, West Family Investments Inc. lifted its position in Ellington Financial by 10.7% during the 4th quarter. West Family Investments Inc. now owns 489,584 shares of the financial services provider’s stock valued at $7,104,000 after purchasing an additional 47,240 shares during the period. Institutional investors own 44.36% of the company’s stock.
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About Ellington Financial
Ellington Financial LLC is a specialty finance company that acquires and manages mortgage-related and other financial assets. The Company’s targeted assets include residential mortgage-backed securities (RMBS), backed by loans for which the principal and interest payments are not guaranteed by a United States Government agency or a United States Government-sponsored entity, collectively referred to as non-Agency RMBS; RMBS for which the principal and interest payments are guaranteed by the United States government agency or the United States government-sponsored entity (Agency RMBS); consumer loans and asset-backed securities (ABS) backed by consumer loans; commercial mortgage-backed securities (CMBS) commercial mortgage loans and other commercial real estate debt; residential mortgage loans; collateralized loan obligations (CLOs); corporate debt and equity, including distressed debt and equity, and mortgage-related derivatives.
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