Dynamic Technology Lab Private Ltd Invests $314,000 in Ellington Financial Inc. $EFC

Key Points

• Dynamic Technology Lab Private Ltd acquired 23,651 shares of Ellington Financial Inc. valued at approximately $314,000 during Q1, marking a new position in the financial services provider.
• Ellington Financial's stock is currently priced at $13.43, with a recent dividend announcement of $0.13 set for October 31st, representing a high dividend yield of 1,140.0%.
• Research firms have varying ratings for Ellington Financial, with Zacks Research giving it a "strong-buy" rating, while the consensus target price stands at $14.46.

Dynamic Technology Lab Private Ltd acquired a new position in Ellington Financial Inc. (NYSE:EFC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,651 shares of the financial services provider's stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EFC. Uniplan Investment Counsel Inc. boosted its position in shares of Ellington Financial by 17.2% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 214,484 shares of the financial services provider's stock worth $2,844,000 after purchasing an additional 31,524 shares in the last quarter. Amundi purchased a new stake in Ellington Financial during the first quarter worth $6,418,000. State of Wyoming boosted its position in Ellington Financial by 65.8% during the first quarter. State of Wyoming now owns 7,633 shares of the financial services provider's stock worth $101,000 after purchasing an additional 3,029 shares in the last quarter. WealthTrust Axiom LLC acquired a new stake in Ellington Financial in the first quarter valued at $138,000. Finally, Corebridge Financial Inc. increased its position in shares of Ellington Financial by 2.0% in the first quarter. Corebridge Financial Inc. now owns 46,054 shares of the financial services provider's stock valued at $611,000 after buying an additional 893 shares in the last quarter. Institutional investors and hedge funds own 55.62% of the company's stock.

Ellington Financial Trading Down 0.1%

Shares of NYSE:EFC traded down $0.01 during midday trading on Monday, reaching $13.42. The company's stock had a trading volume of 1,496,919 shares, compared to its average volume of 1,295,261. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 10.82 and a beta of 1.00. The business has a 50 day moving average price of $13.39 and a 200 day moving average price of $13.05. Ellington Financial Inc. has a 1 year low of $11.12 and a 1 year high of $14.40. The company has a quick ratio of 46.78, a current ratio of 46.78 and a debt-to-equity ratio of 10.96.

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

Ellington Financial Dividend Announcement

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 $0.13 dividend. This represents a yield of 1,140.0%. The ex-dividend date is Tuesday, September 30th. Ellington Financial's payout ratio is presently 125.81%.

Analyst Ratings Changes

EFC has been the subject of several research reports. UBS Group lifted their price objective on Ellington Financial from $12.50 to $13.50 and gave the stock a "neutral" rating in a research 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 for the company in a report on Tuesday, July 1st. Zacks Research upgraded Ellington Financial to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Jones Trading upgraded Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price objective for the company in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $14.46.

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.