Zacks Investment Research upgraded shares of Ellington Financial (NYSE:EFC) from a strong sell rating to a hold rating in a research note published 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. “
EFC has been the subject of several other reports. Deutsche Bank dropped their target price on Ellington Financial from $18.00 to $17.00 and set a buy rating for the company in a research report on Wednesday, November 8th. ValuEngine raised Ellington Financial from a hold rating to a buy rating in a research report on Friday, December 1st. Sandler O’Neill began coverage on Ellington Financial in a research note on Wednesday, December 6th. They issued a buy rating and a $17.00 price objective for the company. B. Riley cut Ellington Financial from a buy rating to a neutral rating and decreased their price objective for the company from $17.50 to $16.00 in a research note on Wednesday, November 8th. Finally, Keefe, Bruyette & Woods set a $17.00 target price on Ellington Financial and gave the stock a hold rating in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $17.25.
Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Ellington Financial had a return on equity of 5.79% and a net margin of 31.55%. equities analysts expect that Ellington Financial will post 1.07 EPS for the current year.
Several large investors have recently added to or reduced their stakes in EFC. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Ellington Financial in the second quarter valued at approximately $216,000. Russell Investments Group Ltd. acquired a new position in shares of Ellington Financial in the second quarter valued at approximately $219,000. Wasatch Advisors Inc. acquired a new position in Ellington Financial during the fourth quarter worth $222,000. Edge Wealth Management LLC grew its holdings in Ellington Financial by 640.0% during the fourth quarter. Edge Wealth Management LLC now owns 18,500 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 16,000 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Ellington Financial during the second quarter worth $277,000. 45.70% of the stock is currently owned by institutional investors and hedge funds.
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Ellington Financial Company Profile
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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