Ellington Financial (NYSE:EFC) Given New $13.50 Price Target at BTIG Research

Ellington Financial (NYSE:EFC) had its target price lowered by equities researchers at BTIG Research from $15.50 to $13.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. BTIG Research’s price target points to a potential upside of 21.46% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. StockNews.com cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ellington Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.95.

Ellington Financial Trading Up 0.8 %

NYSE:EFC opened at $11.12 on Thursday. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21. The business’s 50-day moving average is $11.55 and its two-hundred day moving average is $12.27. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. The firm has a market capitalization of $945.44 million, a PE ratio of 12.35 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The firm had revenue of $27.99 million during the quarter, compared to analyst estimates of $30.77 million. During the same period last year, the business earned $0.42 EPS. Research analysts predict that Ellington Financial will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ellington Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 759 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in shares of Ellington Financial by 8.3% during the third quarter. Portside Wealth Group LLC now owns 10,903 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 835 shares during the period. HighTower Advisors LLC grew its position in shares of Ellington Financial by 7.8% during the fourth quarter. HighTower Advisors LLC now owns 11,792 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 855 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Ellington Financial by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 43,174 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 996 shares during the last quarter. Finally, Optimum Investment Advisors boosted its stake in Ellington Financial by 8.4% during the 4th quarter. Optimum Investment Advisors now owns 12,900 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 1,000 shares during the period. 55.62% of the stock is currently 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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.