Ellington Financial (NYSE:EFC) Shares Pass Above 200-Day Moving Average of $11.99

Ellington Financial Inc. (NYSE:EFC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.99 and traded as high as $12.13. Ellington Financial shares last traded at $11.87, with a volume of 1,027,515 shares changing hands.

Analyst Ratings Changes

EFC has been the topic of a number of recent research reports. Jonestrading initiated coverage on Ellington Financial in a report on Friday, April 19th. They issued a “hold” rating on the stock. BTIG Research cut their price objective on Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a report on Thursday, April 18th. JMP Securities reiterated a “market outperform” rating and issued a $14.50 target price on shares of Ellington Financial in a report on Thursday, April 18th. Finally, StockNews.com upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Stock Down 1.8 %

The company has a current ratio of 46.79, a quick ratio of 46.79 and a debt-to-equity ratio of 10.99. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 18.54 and a beta of 1.98. The business has a fifty day moving average price of $11.94 and a two-hundred day moving average price of $11.99.

Ellington Financial (NYSE:EFC) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. The company had revenue of $31.06 million during the quarter, compared to analysts’ expectations of $26.68 million. On average, equities analysts predict that Ellington Financial Inc. will post 1.48 earnings per share for the current year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Friday, June 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.56 dividend on an annualized basis and a yield of 13.15%. Ellington Financial’s dividend payout ratio (DPR) is currently 243.75%.

Insider Transactions at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $12.15, for a total value of $100,845.00. Following the completion of the sale, the executive now directly owns 160,874 shares of the company’s stock, valued at $1,954,619.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EFC. Global Retirement Partners LLC bought a new stake in shares of Ellington Financial in the first quarter valued at approximately $27,000. Tower Research Capital LLC TRC raised its stake in Ellington Financial by 100.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,424 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings 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 valued at $48,000 after purchasing an additional 992 shares during the period. Private Trust Co. NA grew its position in Ellington Financial by 42.8% in the 4th quarter. Private Trust Co. NA now owns 4,334 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,299 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Ellington Financial during the 4th quarter worth about $102,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.