Two Sigma Advisers LP Has $257,000 Holdings in Ellington Credit (NYSE:EARN)

Two Sigma Advisers LP reduced its position in shares of Ellington Credit (NYSE:EARN - Free Report) by 84.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,800 shares of the real estate investment trust's stock after selling 218,500 shares during the period. Two Sigma Advisers LP owned about 0.13% of Ellington Credit worth $257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in Ellington Credit by 2.2% during the 4th quarter. First Trust Advisors LP now owns 90,895 shares of the real estate investment trust's stock worth $602,000 after acquiring an additional 1,959 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Ellington Credit during the fourth quarter valued at approximately $30,000. State of Wyoming acquired a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $49,000. Jefferies Financial Group Inc. raised its position in Ellington Credit by 53.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 22,401 shares of the real estate investment trust's stock worth $148,000 after purchasing an additional 7,801 shares during the last quarter. Finally, Naviter Wealth LLC acquired a new position in Ellington Credit during the 4th quarter worth $72,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Ellington Credit Stock Down 0.1%

EARN traded down $0.01 during trading on Tuesday, hitting $5.73. The company had a trading volume of 250,298 shares, compared to its average volume of 531,442. The company has a market capitalization of $215.03 million, a PE ratio of 5.11 and a beta of 1.30. Ellington Credit has a one year low of $4.33 and a one year high of $7.20. The firm's 50-day moving average price is $5.37 and its 200 day moving average price is $6.07.

Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The firm had revenue of $9.25 million during the quarter, compared to the consensus estimate of $10.35 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same quarter last year, the firm earned $0.27 earnings per share. Sell-side analysts forecast that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 16.77%. The ex-dividend date is Monday, June 30th. Ellington Credit's payout ratio is -738.46%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Ellington Credit from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. UBS Group boosted their price objective on Ellington Credit from $5.25 to $5.50 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Piper Sandler dropped their target price on shares of Ellington Credit from $8.00 to $6.50 and set an "overweight" rating on the stock in a report on Tuesday, April 8th.

Insiders Place Their Bets

In other Ellington Credit news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of $4.73 per share, with a total value of $37,840.00. Following the transaction, the portfolio manager now directly owns 18,000 shares of the company's stock, valued at $85,140. This represents a 80.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company's stock.

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.