Ellington Financial Inc. (NYSE:EFC) Sees Large Increase in Short Interest

Ellington Financial Inc. (NYSE:EFC - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,610,000 shares, a growth of 54.7% from the March 15th total of 2,980,000 shares. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is currently 4.0 days.

Ellington Financial Stock Performance

Shares of Ellington Financial stock traded down $0.09 during mid-day trading on Friday, hitting $11.19. 602,190 shares of the stock were exchanged, compared to its average volume of 1,142,751. Ellington Financial has a 12 month low of $10.89 and a 12 month high of $14.21. The company has a 50-day simple moving average of $11.62 and a 200 day simple moving average of $12.30. 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 company has a market capitalization of $951.82 million, a P/E ratio of 12.43 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 analysts' consensus estimates of $0.41 by ($0.01). The company had revenue of $27.99 million during the quarter, compared to the consensus estimate of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same period last year, the firm posted $0.42 EPS. Sell-side analysts anticipate that Ellington Financial will post 1.53 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.94%. Ellington Financial's dividend payout ratio (DPR) is presently 173.34%.

Wall Street Analyst Weigh In

EFC has been the topic of several recent analyst reports. StockNews.com raised shares of Ellington Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, March 6th. Keefe, Bruyette & Woods dropped their target price on shares of Ellington Financial from $14.00 to $13.25 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $14.06.

Institutional Investors Weigh In On Ellington Financial

A number of hedge funds have recently modified their holdings of the stock. MAS Advisors LLC bought a new stake in Ellington Financial during the 1st quarter valued at $446,000. Bank of New York Mellon Corp raised its holdings in Ellington Financial by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider's stock valued at $8,306,000 after acquiring an additional 3,263 shares during the period. PNC Financial Services Group Inc. raised its holdings in Ellington Financial by 126.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 759 shares during the period. MetLife Investment Management LLC raised its holdings in Ellington Financial by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider's stock valued at $512,000 after acquiring an additional 10,227 shares during the period. Finally, Rhumbline Advisers raised its holdings in Ellington Financial by 6.8% during the 1st quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider's stock valued at $2,653,000 after acquiring an additional 9,534 shares during the period. Institutional investors own 55.62% of the company's stock.

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.