Piper Sandler Issues Pessimistic Forecast for Ellington Financial (NYSE:EFC) Stock Price

Ellington Financial (NYSE:EFC - Get Free Report) had its target price cut by equities research analysts at Piper Sandler from $15.00 to $14.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's target price points to a potential upside of 11.07% from the stock's previous close.

A number of other brokerages have also recently weighed in on EFC. B. Riley upped their price objective on Ellington Financial from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. UBS Group reissued a "neutral" rating on shares of Ellington Financial in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ellington Financial from $13.75 to $14.50 and gave the company an "outperform" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.75.

Ellington Financial Stock Down 0.3%

Shares of EFC traded down $0.04 during mid-day trading on Tuesday, hitting $13.06. The company's stock had a trading volume of 723,198 shares, compared to its average volume of 982,480. The company has a current ratio of 42.26, a quick ratio of 42.26 and a debt-to-equity ratio of 11.11. The company's 50-day moving average is $12.88 and its 200-day moving average is $12.75. Ellington Financial has a 52-week low of $11.12 and a 52-week high of $14.40. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.26 and a beta of 0.98.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $82.91 million during the quarter, compared to the consensus estimate of $107.06 million. Ellington Financial had a net margin of 101.59% and a return on equity of 12.06%. On average, equities research analysts forecast that Ellington Financial will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Ellington Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EFC. Larson Financial Group LLC grew its stake in shares of Ellington Financial by 18,200.0% during the fourth quarter. Larson Financial Group LLC now owns 2,562 shares of the financial services provider's stock worth $31,000 after acquiring an additional 2,548 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Ellington Financial by 162.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider's stock worth $32,000 after purchasing an additional 1,610 shares in the last quarter. Sterling Capital Management LLC grew its position in Ellington Financial by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider's stock worth $32,000 after purchasing an additional 2,355 shares during the last quarter. AlphaQuest LLC purchased a new stake in Ellington Financial during the 4th quarter worth approximately $37,000. Finally, State of Wyoming acquired a new position in Ellington Financial during the 4th quarter valued at approximately $56,000. 55.62% of the stock is currently 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.