Ellington Financial Inc (NYSE:EFC) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 658,100 shares, a decrease of 10.8% from the September 30th total of 738,000 shares. Based on an average daily volume of 213,300 shares, the short-interest ratio is currently 3.1 days. Approximately 2.1% of the company’s shares are short sold.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Thursday, October 24th. Maxim Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Ellington Financial in a research note on Friday, November 8th. Nomura assumed coverage on shares of Ellington Financial in a research note on Friday, September 27th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, ValuEngine cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Ellington Financial has an average rating of “Buy” and an average target price of $19.75.
EFC traded up $0.25 during trading on Friday, hitting $18.80. 460,637 shares of the stock traded hands, compared to its average volume of 255,377. The firm has a market capitalization of $626.52 million, a P/E ratio of 10.36 and a beta of 0.39. The company has a debt-to-equity ratio of 3.99, a current ratio of 70.03 and a quick ratio of 43.66. The firm has a 50-day moving average of $18.27 and a 200 day moving average of $17.96. Ellington Financial has a 12-month low of $14.69 and a 12-month high of $18.89.
The company also recently declared a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 8.94%. Ellington Financial’s payout ratio is currently 119.15%.
A number of institutional investors and hedge funds have recently made changes to their positions in EFC. Tower Research Capital LLC TRC boosted its position in Ellington Financial by 108.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,550 shares of the financial services provider’s stock valued at $28,000 after buying an additional 808 shares during the period. Strs Ohio purchased a new stake in Ellington Financial during the 2nd quarter valued at $129,000. Wolverine Trading LLC purchased a new stake in Ellington Financial during the 2nd quarter valued at $184,000. Russell Investments Group Ltd. boosted its position in Ellington Financial by 201.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,897 shares of the financial services provider’s stock valued at $193,000 after buying an additional 7,283 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ellington Financial in the 3rd quarter worth about $193,000. 51.40% of the stock is owned by institutional investors and hedge funds.
About Ellington Financial
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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