Ellington Financial (NYSE:EFC) PT Lowered to $13.50

Ellington Financial (NYSE:EFC - Get Free Report) had its price target cut by investment analysts at BTIG Research from $15.50 to $13.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. BTIG Research's price objective would suggest a potential upside of 19.84% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Ellington Financial from $14.00 to $13.25 and set an "outperform" rating for the company in a research note on Wednesday, February 28th. StockNews.com lowered shares of Ellington Financial from a "hold" rating to a "sell" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.95.

Ellington Financial Stock Performance

Shares of NYSE EFC traded up $0.15 during midday trading on Thursday, hitting $11.27. The company's stock had a trading volume of 971,407 shares, compared to its average volume of 1,124,594. Ellington Financial has a 1-year low of $10.88 and a 1-year high of $14.21. The firm's fifty day moving average price is $11.54 and its 200-day moving average price is $12.26. The company has a debt-to-equity ratio of 11.30, a quick ratio of 46.75 and a current ratio of 46.75. The firm has a market cap of $958.20 million, a P/E ratio of 12.52 and a beta of 1.92.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The business had revenue of $27.99 million during the quarter, compared to analyst estimates of $30.77 million. During the same period last year, the firm posted $0.42 earnings per share. On average, sell-side analysts forecast that Ellington Financial will post 1.53 EPS for the current fiscal year.

Institutional Trading of Ellington Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors raised its holdings in shares of Ellington Financial by 7.8% in the 1st quarter. Optimum Investment Advisors now owns 13,900 shares of the financial services provider's stock worth $164,000 after purchasing an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Ellington Financial by 35.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 992 shares in the last quarter. Vanguard Group Inc. grew its position in Ellington Financial by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 4,833,357 shares of the financial services provider's stock valued at $61,432,000 after purchasing an additional 569,935 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Ellington Financial by 8.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 165,976 shares of the financial services provider's stock worth $2,110,000 after acquiring an additional 13,426 shares in the last quarter. Finally, American International Group Inc. grew its position in Ellington Financial by 14.1% in the fourth quarter. American International Group Inc. now owns 41,067 shares of the financial services provider's stock worth $522,000 after acquiring an additional 5,086 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors.

About Ellington Financial

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.