Jane Street Group LLC Grows Stock Holdings in Ellington Credit (NYSE:EARN)

Jane Street Group LLC lifted its position in shares of Ellington Credit (NYSE:EARN - Free Report) by 177.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,714 shares of the real estate investment trust's stock after purchasing an additional 47,151 shares during the period. Jane Street Group LLC owned 0.25% of Ellington Credit worth $488,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Ellington Credit by 56,104,600.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,122,094 shares of the real estate investment trust's stock valued at $7,428,000 after purchasing an additional 1,122,092 shares during the period. Susquehanna International Group LLP increased its position in Ellington Credit by 570.4% in the 4th quarter. Susquehanna International Group LLP now owns 481,669 shares of the real estate investment trust's stock valued at $3,189,000 after acquiring an additional 409,817 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ellington Credit by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 304,629 shares of the real estate investment trust's stock valued at $2,018,000 after purchasing an additional 34,779 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Ellington Credit by 35.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 195,955 shares of the real estate investment trust's stock worth $1,297,000 after acquiring an additional 51,345 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Ellington Credit in the fourth quarter valued at $955,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Ellington Credit Stock Up 0.8%

Shares of EARN traded up $0.04 during trading hours on Tuesday, reaching $5.62. 270,558 shares of the company traded hands, compared to its average volume of 530,332. The company's fifty day moving average price is $5.35 and its two-hundred day moving average price is $6.10. The company has a market capitalization of $211.23 million, a price-to-earnings ratio of 5.02 and a beta of 1.31. Ellington Credit has a 12 month low of $4.33 and a 12 month high of $7.20.

Ellington Credit (NYSE:EARN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $9.25 million for the quarter, compared to the consensus estimate of $10.35 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same period in the previous year, the firm earned $0.27 EPS. On average, analysts expect that Ellington Credit will post 1.17 EPS for the current year.

Ellington Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 17.07%. Ellington Credit's payout ratio is -738.46%.

Insider Buying and Selling at Ellington Credit

In other news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $4.73 per share, for a total transaction of $37,840.00. Following the completion of the transaction, the portfolio manager now directly owns 18,000 shares in the company, valued at $85,140. This trade represents a 80.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EARN has been the subject of several analyst reports. Piper Sandler lowered their target price on shares of Ellington Credit from $8.00 to $6.50 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Ellington Credit from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, UBS Group cut their price objective on shares of Ellington Credit from $6.50 to $5.25 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

Ellington Credit Profile

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.