Ellington Financial (NYSE:EFC) Upgraded at B. Riley

B. Riley upgraded shares of Ellington Financial (NYSE:EFC) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Ellington Financial Price Performance

Shares of NYSE:EFC opened at $12.15 on Tuesday. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. Ellington Financial has a 52 week low of $10.88 and a 52 week high of $13.46. The firm has a market cap of $1.10 billion, a PE ratio of 9.27 and a beta of 1.97. The firm’s fifty day moving average is $12.25 and its 200-day moving average is $12.59.

Ellington Financial (NYSE:EFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $33.63 million for the quarter, compared to the consensus estimate of $37.95 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. During the same period in the previous year, the business earned $0.33 EPS. Sell-side analysts predict that Ellington Financial will post 1.37 earnings per share for the current year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be given a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.84%. The ex-dividend date is Friday, January 31st. Ellington Financial’s dividend payout ratio is presently 119.08%.

Insider Transactions at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now directly owns 168,359 shares in the company, valued at approximately $2,101,120.32. This trade represents a 7.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Ellington Financial

Several large investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC acquired a new stake in Ellington Financial in the third quarter worth $62,000. Prospera Private Wealth LLC bought a new position in shares of Ellington Financial during the 3rd quarter worth about $68,000. Members Trust Co acquired a new stake in shares of Ellington Financial in the 3rd quarter valued at about $129,000. Atom Investors LP bought a new stake in Ellington Financial in the 3rd quarter valued at about $130,000. Finally, PFG Investments LLC acquired a new position in Ellington Financial during the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 55.62% of the company’s stock.

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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.