Ellington Financial (NYSE:EFC) Stock Bumped Up to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded Ellington Financial from “sell” to “hold.” Analysts overall also rate the stock “hold,” with an average price target of $13.83.
• The shares recently traded at $11.12, while the company’s latest quarter fell short of expectations: EPS was $0.45 versus a $0.47 consensus, and revenue was $117.72 million versus estimates of $125.83 million.
• Analyst views remain mixed: Piper Sandler lowered its target to $14 and kept an “overweight” rating, while JonesTrading cut its target to $13 but maintained a “buy” rating.

Ellington Financial (NYSE:EFC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Ellington Financial from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Piper Sandler reduced their target price on Ellington Financial from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, October 9th. UBS Group increased their target price on Ellington Financial from $14.00 to $14.50 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Finally, JonesTrading decreased their target price on Ellington Financial from $14.50 to $13.00 and set a "buy" rating for the company in a research report on Thursday, November 5th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.83.

Ellington Financial Trading Up 1.0%

Shares of EFC traded up $0.11 during midday trading on Friday, hitting $11.12. The stock had a trading volume of 1,817,955 shares, compared to its average volume of 1,952,635. Ellington Financial has a fifty-two week low of $10.84 and a fifty-two week high of $14.12. The business has a 50-day simple moving average of $11.95 and a two-hundred day simple moving average of $12.78. The firm has a market cap of $1.44 billion, a P/E ratio of 6.70 and a beta of 1.01. The company has a current ratio of 43.60, a quick ratio of 52.06 and a debt-to-equity ratio of 10.57.

Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The firm had revenue of $117.72 million for the quarter, compared to analyst estimates of $125.83 million. Ellington Financial had a net margin of 41.95% and a return on equity of 15.83%. As a group, equities analysts forecast that Ellington Financial will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Ellington Financial during the 2nd quarter valued at $284,144,000. State Street Corp increased its position in Ellington Financial by 7.5% in the 2nd quarter. State Street Corp now owns 4,952,930 shares of the financial services provider's stock worth $68,043,000 after purchasing an additional 347,567 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Ellington Financial during the 2nd quarter worth about $11,133,000. Principal Financial Group Inc. lifted its holdings in shares of Ellington Financial by 18.5% during the 1st quarter. Principal Financial Group Inc. now owns 605,681 shares of the financial services provider's stock valued at $7,177,000 after buying an additional 94,625 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Ellington Financial by 139.6% during the 3rd quarter. Marshall Wace LLP now owns 601,356 shares of the financial services provider's stock valued at $7,114,000 after buying an additional 350,332 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company's stock.

About Ellington Financial

Ellington Financial Inc. is a real estate investment trust that invests in a diversified portfolio of financial assets, with a focus on mortgage-related investments. Its holdings include residential and commercial mortgage loans and securities, as well as other asset-backed and consumer-related investments. The company seeks to generate income and returns through investing in, financing and managing these assets. Its portfolio may include mortgage servicing rights and other investments related to residential and commercial real estate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.