Marshall Wace LLP Cuts Holdings in Ellington Credit (NYSE:EARN)

Marshall Wace LLP reduced its position in shares of Ellington Credit (NYSE:EARN - Free Report) by 84.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,101 shares of the real estate investment trust's stock after selling 368,627 shares during the period. Marshall Wace LLP owned 0.23% of Ellington Credit worth $451,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Ellington Credit in the 4th quarter valued at about $30,000. Naviter Wealth LLC purchased a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $72,000. Inspire Advisors LLC purchased a new position in Ellington Credit during the fourth quarter worth approximately $98,000. Plancorp LLC acquired a new position in Ellington Credit during the fourth quarter worth $100,000. Finally, Global Retirement Partners LLC purchased a new stake in Ellington Credit in the 4th quarter valued at $114,000. Institutional investors and hedge funds own 20.40% of the company's stock.

Analysts Set New Price Targets

EARN has been the topic of several recent research reports. UBS Group lowered their price target on shares of Ellington Credit from $6.50 to $5.25 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Piper Sandler decreased 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.

Ellington Credit Price Performance

Shares of NYSE:EARN traded up $0.06 during midday trading on Wednesday, reaching $5.38. 246,643 shares of the company's stock were exchanged, compared to its average volume of 524,178. The stock has a market cap of $202.07 million, a price-to-earnings ratio of 4.80 and a beta of 1.31. Ellington Credit has a fifty-two week low of $4.33 and a fifty-two week high of $7.26. The firm's 50 day simple moving average is $5.54 and its two-hundred day simple moving average is $6.25.

Ellington Credit (NYSE:EARN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $6.14 million during the quarter, compared to analysts' expectations of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. Equities research analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 17.84%. The ex-dividend date of this dividend is Wednesday, April 30th. Ellington Credit's dividend payout ratio (DPR) is 320.00%.

Insider Transactions at Ellington Credit

In other Ellington Credit news, Portfolio Manager Gregory Morris Borenstein bought 8,000 shares of the business's stock in a transaction that occurred 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 purchase, the portfolio manager now directly owns 18,000 shares in the company, valued at approximately $85,140. This represents a 80.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% 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.