Ellington Financial (NYSE:EFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “
Several other equities analysts also recently issued reports on EFC. Maxim Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Ellington Financial in a research report on Friday, April 16th. UBS Group began coverage on Ellington Financial in a research report on Friday, January 15th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, JMP Securities lifted their price objective on Ellington Financial from $14.00 to $16.50 and gave the company a “market outperform” rating in a research report on Friday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.22.
Shares of Ellington Financial stock traded up $0.30 during midday trading on Wednesday, hitting $17.80. 420,518 shares of the company were exchanged, compared to its average volume of 301,596. The firm has a 50 day simple moving average of $16.63 and a 200-day simple moving average of $15.08. The company has a debt-to-equity ratio of 3.11, a current ratio of 43.34 and a quick ratio of 43.34. Ellington Financial has a 52 week low of $8.18 and a 52 week high of $18.01. The firm has a market cap of $779.32 million, a P/E ratio of -21.45 and a beta of 2.10.
Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Thursday, February 18th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Ellington Financial had a negative net margin of 22.63% and a positive return on equity of 10.00%. The business had revenue of $27.12 million during the quarter, compared to the consensus estimate of $29.06 million. Equities research analysts expect that Ellington Financial will post 1.65 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. IndexIQ Advisors LLC grew its stake in shares of Ellington Financial by 11.5% during the fourth quarter. IndexIQ Advisors LLC now owns 36,681 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 3,788 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Ellington Financial during the fourth quarter worth $285,000. UBS Asset Management Americas Inc. grew its stake in shares of Ellington Financial by 93.0% during the third quarter. UBS Asset Management Americas Inc. now owns 68,900 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 33,200 shares during the period. BlackRock Inc. grew its stake in shares of Ellington Financial by 0.4% during the fourth quarter. BlackRock Inc. now owns 4,216,017 shares of the financial services provider’s stock worth $62,566,000 after purchasing an additional 15,008 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Ellington Financial by 12.1% during the third quarter. Van ECK Associates Corp now owns 269,766 shares of the financial services provider’s stock worth $3,307,000 after purchasing an additional 29,056 shares during the period. 62.55% of the stock is owned by institutional investors and hedge funds.
Ellington Financial Company Profile
Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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