Ellington Financial Inc. (NYSE:EFC) Sees Significant Decline in Short Interest

Ellington Financial Inc. (NYSE:EFCGet Rating) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,480,000 shares, a decrease of 30.8% from the March 15th total of 2,140,000 shares. Based on an average daily volume of 772,200 shares, the short-interest ratio is presently 1.9 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of EFC. Morgan Stanley boosted its stake in Ellington Financial by 301.2% during the 2nd quarter. Morgan Stanley now owns 379,137 shares of the financial services provider’s stock valued at $7,260,000 after acquiring an additional 284,635 shares during the last quarter. Strs Ohio boosted its stake in Ellington Financial by 12.6% during the 3rd quarter. Strs Ohio now owns 10,700 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 1,200 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Ellington Financial by 32.4% during the 3rd quarter. WINTON GROUP Ltd now owns 96,286 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 23,562 shares during the last quarter. Harvest Investment Services LLC bought a new position in Ellington Financial during the 3rd quarter valued at $221,000. Finally, Amalgamated Bank boosted its stake in Ellington Financial by 10.5% during the 3rd quarter. Amalgamated Bank now owns 22,714 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 2,156 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Several equities research analysts have issued reports on EFC shares. StockNews.com started coverage on shares of Ellington Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Bank of America decreased their price objective on shares of Ellington Financial from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, March 9th. TheStreet upgraded shares of Ellington Financial from a “c+” rating to a “b” rating in a research note on Wednesday, February 2nd. Finally, Zacks Investment Research upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, February 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Ellington Financial has an average rating of “Hold” and an average target price of $19.40.

Shares of EFC stock traded down $0.01 on Friday, hitting $17.11. The stock had a trading volume of 489,296 shares, compared to its average volume of 802,511. The firm has a market capitalization of $983.48 million, a price-to-earnings ratio of 6.51 and a beta of 1.96. The stock’s 50 day moving average is $17.55 and its 200-day moving average is $17.64. The company has a debt-to-equity ratio of 3.32, a quick ratio of 31.82 and a current ratio of 31.82. Ellington Financial has a 52-week low of $15.68 and a 52-week high of $19.60.

Ellington Financial (NYSE:EFCGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The financial services provider reported $0.44 EPS for the quarter. Ellington Financial had a net margin of 102.64% and a return on equity of 10.24%. The firm had revenue of $38.47 million for the quarter. Equities analysts expect that Ellington Financial will post 1.86 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Friday, April 29th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, April 28th. This represents a $1.80 dividend on an annualized basis and a yield of 10.52%. Ellington Financial’s dividend payout ratio (DPR) is 68.44%.

Ellington Financial Company Profile (Get Rating)

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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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