StockNews.com Upgrades Ellington Financial (NYSE:EFC) to Hold

Ellington Financial (NYSE:EFC – Get Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, Credit Suisse Group downgraded Ellington Financial from an “outperform” rating to a “neutral” rating and set a $14.00 price target for the company. in a report on Monday, January 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.38.

Ellington Financial Trading Up 0.5 %

NYSE:EFC opened at $12.83 on Friday. Ellington Financial has a 1-year low of $10.81 and a 1-year high of $18.13. The business’s 50-day moving average price is $13.36 and its two-hundred day moving average price is $13.45. The company has a current ratio of 41.89, a quick ratio of 21.09 and a debt-to-equity ratio of 12.49. The firm has a market capitalization of $875.65 million, a price-to-earnings ratio of -8.97 and a beta of 1.87.

Hedge Funds Weigh In On Ellington Financial

Hedge funds have recently added to or reduced their stakes in the stock. Ranger Global Real Estate Advisors LLC increased its stake in shares of Ellington Financial by 30.0% in the 2nd quarter. Ranger Global Real Estate Advisors LLC now owns 2,639,272 shares of the financial services provider’s stock valued at $38,718,000 after purchasing an additional 609,637 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Ellington Financial in the 3rd quarter valued at $3,801,000. Renaissance Technologies LLC bought a new position in shares of Ellington Financial in the 1st quarter valued at $4,913,000. First Trust Advisors LP increased its stake in shares of Ellington Financial by 290.0% in the 1st quarter. First Trust Advisors LP now owns 364,802 shares of the financial services provider’s stock valued at $6,475,000 after purchasing an additional 271,270 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Ellington Financial by 15.4% in the 1st quarter. State Street Corp now owns 2,002,138 shares of the financial services provider’s stock valued at $35,823,000 after purchasing an additional 266,573 shares during the last quarter. Institutional investors own 54.02% of the company’s stock.

Ellington Financial Company Profile

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Ellington Financial, Inc operates as an investment trust. The firm engages in the provision of investment services. It manages mortgage-backed assets, securities, loans and real estate debts. The company was founded on July 9, 2007 and is headquartered in Old Greenwich, CT.