Ronald Simon Purchases 5,544 Shares of Ellington Financial (NYSE:EFC) Stock

Ellington Financial Inc. (NYSE:EFC) Director Ronald Simon bought 5,544 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were bought at an average price of $13.56 per share, for a total transaction of $75,176.64. Following the completion of the acquisition, the director owned 80,000 shares of the company’s stock, valued at approximately $1,084,800. This represents a 7.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Ellington Financial Price Performance

NYSE EFC opened at $13.33 on Friday. Ellington Financial Inc. has a fifty-two week low of $11.12 and a fifty-two week high of $14.40. The stock’s 50-day moving average is $13.36 and its two-hundred day moving average is $13.02. The company has a debt-to-equity ratio of 10.96, a current ratio of 46.78 and a quick ratio of 46.78. The firm has a market cap of $1.33 billion, a P/E ratio of 10.75 and a beta of 1.00.

Ellington Financial (NYSE:EFC) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%.The company had revenue of $92.54 million for the quarter, compared to analyst estimates of $112.48 million. On average, analysts anticipate that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The business also recently announced a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.13 per share. This represents a yield of 1,202.0%. The ex-dividend date is Tuesday, September 30th. Ellington Financial’s dividend payout ratio (DPR) is 125.81%.

Wall Street Analysts Forecast Growth

EFC has been the topic of several recent research reports. UBS Group raised their target price on Ellington Financial from $12.50 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ellington Financial in a research note on Saturday, September 27th. Piper Sandler dropped their price objective on Ellington Financial from $15.00 to $14.50 and set an “overweight” rating on the stock in a research note on Tuesday, July 1st. Zacks Research upgraded Ellington Financial to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Jones Trading upgraded Ellington Financial from a “hold” rating to a “buy” rating and set a $14.25 price objective on the stock in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.46.

Hedge Funds Weigh In On Ellington Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in EFC. Millennium Management LLC bought a new position in Ellington Financial during the fourth quarter valued at about $156,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ellington Financial by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,250 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 21,324 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Ellington Financial by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 81,097 shares of the financial services provider’s stock valued at $983,000 after purchasing an additional 873 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Ellington Financial by 1,824.5% during the first quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 5,291 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Ellington Financial by 4,459.3% during the first quarter. GAMMA Investing LLC now owns 63,648 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 62,252 shares in the last quarter. 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.