Ellington Financial (NYSE:EFC) Rating Lowered to Sell at StockNews.com

Ellington Financial (NYSE:EFC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Separately, Keefe, Bruyette & Woods dropped their price target on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ellington Financial has an average rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Stock Up 1.3 %

Ellington Financial stock opened at $11.27 on Wednesday. Ellington Financial has a one year low of $10.88 and a one year high of $14.21. The stock has a fifty day moving average of $11.54 and a 200 day moving average of $12.26. The company has a debt-to-equity ratio of 11.30, a quick ratio of 46.75 and a current ratio of 46.75. The stock has a market cap of $958.20 million, a PE ratio of 12.52 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $27.99 million for the quarter, compared to analysts’ expectations of $30.77 million. Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. During the same period in the previous year, the company earned $0.42 EPS. As a group, sell-side analysts predict that Ellington Financial will post 1.53 EPS for the current year.

Institutional Trading of Ellington Financial

Institutional investors and hedge funds have recently modified their holdings of the company. MAS Advisors LLC purchased a new stake in Ellington Financial in the 1st quarter worth $446,000. Bank of New York Mellon Corp grew its position in shares of Ellington Financial by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider’s stock worth $8,306,000 after purchasing an additional 3,263 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Ellington Financial by 126.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 759 shares during the period. MetLife Investment Management LLC lifted its holdings in Ellington Financial by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 10,227 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Ellington Financial by 6.8% in the 1st quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider’s stock worth $2,653,000 after purchasing an additional 9,534 shares during the period. 55.62% of the stock is currently owned by institutional investors.

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.