Zacks Investment Research Upgrades Ellington Financial (NYSE:EFC) to “Hold”

Zacks Investment Research upgraded shares of Ellington Financial (NYSE:EFC) from a strong sell rating to a hold rating in a research report released on Tuesday, January 9th.

According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “

Other equities analysts have also recently issued reports about the stock. B. Riley restated a buy rating and issued a $16.00 price target (down from $17.50) on shares of Ellington Financial in a research report on Wednesday, November 1st. Maxim Group reiterated a buy rating and set a $20.00 price objective on shares of Ellington Financial in a research report on Monday, October 9th. Sandler O’Neill initiated coverage on shares of Ellington Financial in a research report on Wednesday, December 6th. They set a buy rating and a $17.00 price objective for the company. Deutsche Bank decreased their price objective on shares of Ellington Financial from $18.00 to $17.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Finally, ValuEngine raised shares of Ellington Financial from a hold rating to a buy rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Ellington Financial has an average rating of Buy and an average target price of $17.25.

Shares of Ellington Financial (NYSE EFC) traded down $0.01 during trading hours on Tuesday, reaching $15.00. 92,400 shares of the company traded hands, compared to its average volume of 94,430. The company has a market cap of $480.27, a P/E ratio of 17.05 and a beta of 0.41. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90. Ellington Financial has a fifty-two week low of $14.45 and a fifty-two week high of $17.00.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.06). Ellington Financial had a net margin of 31.55% and a return on equity of 5.79%. equities analysts predict that Ellington Financial will post 1.07 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ellington Financial in the second quarter valued at $216,000. Russell Investments Group Ltd. bought a new position in shares of Ellington Financial during the second quarter valued at about $219,000. Wasatch Advisors Inc. bought a new position in shares of Ellington Financial during the fourth quarter valued at about $222,000. Citadel Advisors LLC bought a new position in shares of Ellington Financial during the second quarter valued at about $277,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Ellington Financial during the second quarter valued at about $405,000. 45.70% of the stock is currently owned by hedge funds and other institutional investors.

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About Ellington Financial

Ellington Financial LLC is a specialty finance company that acquires and manages mortgage-related and other financial assets. The Company’s targeted assets include residential mortgage-backed securities (RMBS), backed by loans for which the principal and interest payments are not guaranteed by a United States Government agency or a United States Government-sponsored entity, collectively referred to as non-Agency RMBS; RMBS for which the principal and interest payments are guaranteed by the United States government agency or the United States government-sponsored entity (Agency RMBS); consumer loans and asset-backed securities (ABS) backed by consumer loans; commercial mortgage-backed securities (CMBS) commercial mortgage loans and other commercial real estate debt; residential mortgage loans; collateralized loan obligations (CLOs); corporate debt and equity, including distressed debt and equity, and mortgage-related derivatives.

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Analyst Recommendations for Ellington Financial (NYSE:EFC)

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