Weiss Ratings Reaffirms "Hold (C)" Rating for Ellington Financial (NYSE:EFC)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Ellington Financial (NYSE:EFC), indicating a cautious stance amid varying analyst opinions.
• Analysts are optimistic about the stock, with targets ranging from $12.50 to $14.25, and a consensus rating of "Moderate Buy" with a target price of $14.46.
• Ellington Financial's recent quarterly earnings exceeded estimates, reporting $0.47 earnings per share against a consensus of $0.40, showcasing strong financial performance.

Ellington Financial (NYSE:EFC - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. UBS Group raised their price target on Ellington Financial from $12.50 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Jones Trading raised Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price target for the company in a research report on Wednesday, August 13th. Zacks Research raised Ellington Financial to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Piper Sandler dropped their price target on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.46.

Ellington Financial Price Performance

Shares of NYSE EFC traded up $0.17 on Wednesday, hitting $13.62. The company's stock had a trading volume of 1,099,223 shares, compared to its average volume of 1,592,845. Ellington Financial has a 12-month low of $11.12 and a 12-month high of $14.40. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 10.98 and a beta of 1.00. The company has a debt-to-equity ratio of 10.96, a current ratio of 46.78 and a quick ratio of 46.78. The stock has a 50 day moving average of $13.38 and a 200-day moving average of $13.03.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. Ellington Financial had a net margin of 89.52% and a return on equity of 13.56%. The business had revenue of $92.54 million during the quarter, compared to analysts' expectations of $112.48 million. As a group, research analysts predict that Ellington Financial will post 1.38 EPS for the current year.

Insider Activity

In related news, Director Ronald I. Simon purchased 5,544 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of $13.56 per share, with a total value of $75,176.64. Following the completion of the transaction, the director owned 80,000 shares of the company's stock, valued at approximately $1,084,800. This trade represents a 7.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Ellington Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in Ellington Financial by 67.6% during the second quarter. CWM LLC now owns 2,010 shares of the financial services provider's stock worth $26,000 after purchasing an additional 811 shares during the last quarter. Huntington National Bank increased its position in Ellington Financial by 134.4% during the second quarter. Huntington National Bank now owns 2,752 shares of the financial services provider's stock worth $36,000 after purchasing an additional 1,578 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Ellington Financial by 93.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,582 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,735 shares during the last quarter. GAMMA Investing LLC increased its position in Ellington Financial by 243.8% during the first quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock worth $64,000 after purchasing an additional 3,404 shares during the last quarter. Finally, Allworth Financial LP increased its position in Ellington Financial by 1,239.4% during the second quarter. Allworth Financial LP now owns 6,697 shares of the financial services provider's stock worth $87,000 after purchasing an additional 6,197 shares during the last quarter. Institutional investors and hedge funds 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.

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