Ellington Financial LLC (EFC) Stock Rating Upgraded by Zacks Investment Research

Ellington Financial LLC (NYSE:EFC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, October 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 analysts have also issued research reports about the stock. Maxim Group reiterated a “buy” rating and set a $20.00 price target on shares of Ellington Financial in a report on Monday, October 9th. ValuEngine raised shares of Ellington Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Ellington Financial presently has a consensus rating of “Hold” and an average price target of $18.75.

Shares of Ellington Financial (NYSE:EFC) traded up 0.13% during midday trading on Monday, reaching $15.64. The company’s stock had a trading volume of 30,477 shares. Ellington Financial has a 52 week low of $15.30 and a 52 week high of $17.00. The stock has a 50-day moving average price of $15.69 and a 200 day moving average price of $16.19. The stock has a market capitalization of $502.23 million, a PE ratio of 22.97 and a beta of 0.43.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $22.66 million during the quarter, compared to the consensus estimate of $21.82 million. Ellington Financial had a net margin of 26.67% and a return on equity of 5.48%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. Equities analysts forecast that Ellington Financial will post $1.26 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tahithromos L.L.C. lifted its stake in shares of Ellington Financial by 0.3% during the 2nd quarter. Tahithromos L.L.C. now owns 121,645 shares of the financial services provider’s stock valued at $1,972,000 after buying an additional 400 shares in the last quarter. Edge Wealth Management LLC lifted its stake in shares of Ellington Financial by 1.6% during the 2nd quarter. Edge Wealth Management LLC now owns 32,500 shares of the financial services provider’s stock valued at $530,000 after buying an additional 500 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Ellington Financial by 0.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 418,209 shares of the financial services provider’s stock valued at $6,779,000 after buying an additional 2,993 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Ellington Financial by 16.9% during the 1st quarter. Wells Fargo & Company MN now owns 21,534 shares of the financial services provider’s stock valued at $341,000 after buying an additional 3,109 shares in the last quarter. Finally, BB&T Securities LLC lifted its stake in shares of Ellington Financial by 21.1% during the 2nd quarter. BB&T Securities LLC now owns 47,142 shares of the financial services provider’s stock valued at $764,000 after buying an additional 8,200 shares in the last quarter. Hedge funds and other institutional investors own 50.53% of the company’s stock.

About Ellington Financial

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