Ellington Financial Inc. (NYSE:EFC) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC cut its holdings in shares of Ellington Financial Inc. (NYSE:EFC) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,803,078 shares of the financial services provider’s stock after selling 172,059 shares during the quarter. Ellington Financial comprises 1.9% of Easterly Investment Partners LLC’s portfolio, making the stock its 5th biggest holding. Easterly Investment Partners LLC’s holdings in Ellington Financial were worth $21,781,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EFC. Louisiana State Employees Retirement System raised its holdings in Ellington Financial by 8.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 42,800 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 3,500 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Ellington Financial by 15.4% in the second quarter. Nisa Investment Advisors LLC now owns 44,976 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 6,010 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Ellington Financial during the second quarter worth approximately $278,000. CWM LLC lifted its holdings in Ellington Financial by 150.2% during the 2nd quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,562 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Ellington Financial by 359.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 294,834 shares of the financial services provider’s stock valued at $3,562,000 after purchasing an additional 230,722 shares during the period. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Price Performance

Shares of NYSE:EFC traded up $0.16 during trading on Friday, reaching $13.38. 1,006,750 shares of the company traded hands, compared to its average volume of 1,008,291. The firm has a market capitalization of $1.14 billion, a PE ratio of 20.91 and a beta of 1.97. Ellington Financial Inc. has a 52 week low of $10.88 and a 52 week high of $13.50. The company has a quick ratio of 46.79, a current ratio of 46.79 and a debt-to-equity ratio of 10.99. The company’s 50 day moving average is $12.62 and its two-hundred day moving average is $12.02.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. The firm had revenue of $33.60 million for the quarter, compared to the consensus estimate of $37.20 million. During the same period in the prior year, the company earned $0.38 EPS. As a group, sell-side analysts predict that Ellington Financial Inc. will post 1.46 earnings per share for the current year.

Ellington Financial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.56 annualized dividend and a dividend yield of 11.66%. Ellington Financial’s dividend payout ratio is 243.75%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com upgraded Ellington Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. JMP Securities lowered their price target on shares of Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ellington Financial presently has a consensus rating of “Moderate Buy” and an average target price of $13.85.

Insider Activity at Ellington Financial

In other news, CIO Michael W. Vranos sold 8,300 shares of Ellington Financial stock in a transaction on Monday, June 17th. The stock was sold at an average price of $12.15, for a total value of $100,845.00. Following the transaction, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $12.15, for a total value of $100,845.00. Following the completion of the transaction, the executive now owns 160,874 shares of the company’s stock, valued at $1,954,619.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Michael W. Vranos sold 5,900 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total transaction of $71,508.00. Following the completion of the sale, the executive now owns 179,655 shares in the company, valued at $2,177,418.60. The disclosure for this sale can be found here. Insiders have sold 22,500 shares of company stock valued at $272,866 over the last three months. 4.40% of the stock is owned by insiders.

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.