Ellington Financial (NYSE:EFC) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Ellington Financial (NYSE:EFC) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the company. Weiss Ratings lowered Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Piper Sandler cut their price target on Ellington Financial from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 9th. UBS Group upped their price target on Ellington Financial from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Zacks Research cut Ellington Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, JonesTrading lowered their price objective on shares of Ellington Financial from $14.50 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Ellington Financial currently has an average rating of “Hold” and an average price target of $13.83.

Ellington Financial Stock Up 1.4%

EFC stock opened at $11.42 on Friday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 6.88 and a beta of 1.01. The company has a 50-day moving average of $12.13 and a two-hundred day moving average of $12.83. Ellington Financial has a 52-week low of $11.15 and a 52-week high of $14.12. The company has a debt-to-equity ratio of 10.39, a current ratio of 52.06 and a quick ratio of 52.06.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ellington Financial had a return on equity of 16.12% and a net margin of 41.95%. The business had revenue of $117.72 million during the quarter, compared to the consensus estimate of $125.83 million. As a group, equities research analysts anticipate that Ellington Financial will post 2.07 EPS for the current year.

Ellington Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, November 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.7%. Ellington Financial’s dividend payout ratio is currently 93.98%.

Institutional Investors Weigh In On Ellington Financial

Several hedge funds have recently made changes to their positions in EFC. GAMMA Investing LLC increased its stake in shares of Ellington Financial by 18.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,071 shares of the financial services provider’s stock valued at $69,000 after buying an additional 785 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Ellington Financial by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 51,525 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 1,610 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Ellington Financial during the second quarter valued at $25,000. Farther Finance Advisors LLC lifted its stake in shares of Ellington Financial by 287.6% during the third quarter. Farther Finance Advisors LLC now owns 2,566 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,904 shares during the period. Finally, Continuum Advisory LLC bought a new position in Ellington Financial in the second quarter valued at about $28,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

Ellington Financial Inc is a real estate investment trust that invests in a diversified portfolio of financial assets, with a focus on mortgage-related investments. Its holdings include residential and commercial mortgage loans and securities, as well as other asset-backed and consumer-related investments.

The company seeks to generate income and returns through investing in, financing and managing these assets. Its portfolio may include mortgage servicing rights and other investments related to residential and commercial real estate.

Ellington Financial is externally managed by Ellington Financial Management LLC, an affiliate of Ellington Management Group.