62,218 Shares in Ellington Financial Inc. $EFC Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP invested approximately $825,000 in Ellington Financial Inc., acquiring 62,218 shares, representing about 0.07% of the company's stock.
• Ellington Financial announced a $0.13 dividend to be paid on October 31st, 2023, with an impressive dividend yield of 1,140.0%.
• Analysts give Ellington Financial a consensus rating of "Buy" with an average target price of $14.46, highlighting recent upgrades from several research firms.

Caxton Associates LLP purchased a new stake in Ellington Financial Inc. (NYSE:EFC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 62,218 shares of the financial services provider's stock, valued at approximately $825,000. Caxton Associates LLP owned 0.07% of Ellington Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new position in Ellington Financial in the 4th quarter worth $56,000. GAMMA Investing LLC boosted its position in shares of Ellington Financial by 243.8% during the first quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock worth $64,000 after buying an additional 3,404 shares during the period. Versant Capital Management Inc grew its holdings in shares of Ellington Financial by 1,824.5% during the first quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider's stock worth $74,000 after buying an additional 5,291 shares in the last quarter. Russell Investments Group Ltd. raised its position in Ellington Financial by 99.4% in the 1st quarter. Russell Investments Group Ltd. now owns 9,918 shares of the financial services provider's stock valued at $132,000 after buying an additional 4,944 shares during the last quarter. Finally, WealthTrust Axiom LLC bought a new stake in Ellington Financial in the 1st quarter valued at approximately $138,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Ellington Financial from $12.50 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Jones Trading upgraded shares of Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price target on the stock in a research note on Wednesday, August 13th. Zacks Research upgraded shares of Ellington Financial to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Piper Sandler decreased their price objective on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $14.46.

Ellington Financial Stock Performance

NYSE:EFC traded down $0.11 during mid-day trading on Friday, hitting $13.43. The stock had a trading volume of 1,203,794 shares, compared to its average volume of 1,290,635. Ellington Financial Inc. has a twelve month low of $11.12 and a twelve month high of $14.40. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 10.83 and a beta of 1.00. The company's 50 day simple moving average is $13.38 and its 200 day simple moving average is $13.06.

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

Ellington Financial Announces Dividend

The business also recently announced a sep 25 dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 1,140.0%. Ellington Financial's payout ratio is presently 125.81%.

Ellington Financial Profile

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.