Ellington Financial (NYSE:EFC) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Ellington Financial's stock has been given a "hold (C)" rating by Weiss Ratings, while the average analyst rating stands at "Moderate Buy" with a consensus target price of $14.46.
• Insider activity includes Director Ronald I. Simon purchasing 5,544 shares at an average price of $13.56, increasing his ownership stake in the company.
• The company reported earnings of $0.47 per share for the last quarter, exceeding analysts' expectations, although its revenue fell short of forecasts at $92.54 million.

Ellington Financial (NYSE:EFC - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the company. Jones Trading upgraded Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price target on the stock in a report on Wednesday, August 13th. UBS Group increased their price target on Ellington Financial from $12.50 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Piper Sandler cut their price target on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. Finally, Zacks Research lowered Ellington Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.46.

Ellington Financial Price Performance

Ellington Financial stock opened at $13.33 on Friday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 10.75 and a beta of 1.00. Ellington Financial has a 52-week low of $11.12 and a 52-week high of $14.40. The stock's 50 day moving average price is $13.49 and its two-hundred day moving average price is $13.08. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. The firm had revenue of $92.54 million for the quarter, compared to analysts' expectations of $112.48 million. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%. On average, equities analysts predict that Ellington Financial will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Ellington Financial

In other news, Director Ronald I. Simon bought 5,544 shares of the stock in a transaction dated Thursday, September 11th. The shares were bought at an average cost of $13.56 per share, with a total value of $75,176.64. Following the completion of the transaction, the director directly owned 80,000 shares of the company's stock, valued at $1,084,800. This trade represents a 7.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ellington Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Ellington Financial by 4.5% in the 1st quarter. Bank of New York Mellon Corp now owns 671,272 shares of the financial services provider's stock valued at $8,901,000 after buying an additional 29,188 shares during the last quarter. Amundi purchased a new stake in Ellington Financial in the 1st quarter valued at $6,418,000. Cambridge Investment Research Advisors Inc. raised its position in Ellington Financial by 32.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,238 shares of the financial services provider's stock valued at $374,000 after buying an additional 6,892 shares during the last quarter. Northern Trust Corp raised its position in Ellington Financial by 2.1% in the 1st quarter. Northern Trust Corp now owns 1,115,881 shares of the financial services provider's stock valued at $14,797,000 after buying an additional 22,979 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Ellington Financial by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 451,287 shares of the financial services provider's stock valued at $5,984,000 after buying an additional 11,975 shares during the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

About Ellington Financial

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.

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