Ellington Financial (NYSE:EFC) Stock Rating Reaffirmed by JMP Securities

Ellington Financial (NYSE:EFC - Get Free Report)'s stock had its "market outperform" rating reiterated by stock analysts at JMP Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $14.50 price objective on the financial services provider's stock. JMP Securities' price objective points to a potential upside of 28.72% from the stock's current price.

Several other research analysts also recently commented on the stock. BTIG Research cut their price objective on shares of Ellington Financial from $15.50 to $13.50 and set a "buy" rating for the company in a report on Thursday. StockNews.com downgraded shares of Ellington Financial from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Ellington Financial from $14.00 to $13.25 and set an "outperform" rating for the company in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $13.95.

Ellington Financial Stock Performance

Shares of EFC stock traded up $0.15 during trading hours on Thursday, hitting $11.27. 971,407 shares of the company were exchanged, compared to its average volume of 1,124,594. The firm has a fifty day simple moving average of $11.54 and a 200 day simple moving average of $12.26. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $14.21. The stock has a market capitalization of $958.20 million, a price-to-earnings ratio of 12.52 and a beta of 1.92.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $27.99 million for the quarter, compared to analysts' expectations of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same quarter in the previous year, the business earned $0.42 EPS. Research analysts predict that Ellington Financial will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Ellington Financial

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