Ellington Credit (NYSE:EARN) Rating Increased to Hold at Wall Street Zen

Key Points

• Ellington Credit was upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more positive outlook from analysts.
• UBS Group reduced its price target for Ellington Credit from $5.75 to $5.25 and maintains a "neutral" rating for the stock.
• Ellington Credit last reported earnings of $0.18 EPS, missing analysts' estimates and revealing a revenue shortfall compared to expectations.

Ellington Credit (NYSE:EARN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

Separately, UBS Group cut their price target on shares of Ellington Credit from $5.75 to $5.25 and set a "neutral" rating for the company in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ellington Credit currently has a consensus rating of "Moderate Buy" and an average price target of $5.88.

Ellington Credit Stock Performance

Shares of EARN opened at $5.35 on Friday. The company has a market capitalization of $200.76 million, a price-to-earnings ratio of 29.69 and a beta of 1.33. Ellington Credit has a fifty-two week low of $4.32 and a fifty-two week high of $7.11. The firm has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $5.59.

Ellington Credit (NYSE:EARN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $9.87 million for the quarter, compared to analysts' expectations of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. Equities research analysts forecast that Ellington Credit will post 1.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EARN. Bogart Wealth LLC lifted its stake in Ellington Credit by 62.5% during the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 2,000 shares during the last quarter. Inspire Advisors LLC lifted its stake in Ellington Credit by 13.7% during the second quarter. Inspire Advisors LLC now owns 19,566 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 2,363 shares during the last quarter. Vident Advisory LLC lifted its stake in Ellington Credit by 27.5% during the first quarter. Vident Advisory LLC now owns 17,383 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 3,754 shares during the last quarter. Quarry LP acquired a new stake in Ellington Credit during the first quarter valued at approximately $33,000. Finally, Envestnet Asset Management Inc. lifted its stake in Ellington Credit by 14.1% during the second quarter. Envestnet Asset Management Inc. now owns 71,562 shares of the real estate investment trust's stock valued at $411,000 after purchasing an additional 8,859 shares during the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.

About Ellington Credit

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.

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