Marshall Wace LLP Has $451,000 Stock Position in Ellington Credit (NYSE:EARN)

Marshall Wace LLP lessened its holdings in Ellington Credit (NYSE:EARN) by 84.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,101 shares of the real estate investment trust’s stock after selling 368,627 shares during the period. Marshall Wace LLP owned 0.23% of Ellington Credit worth $451,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EARN. Wells Fargo & Company MN boosted its holdings in shares of Ellington Credit by 56,104,600.0% during the 4th quarter. Wells Fargo & Company MN now owns 1,122,094 shares of the real estate investment trust’s stock worth $7,428,000 after buying an additional 1,122,092 shares during the period. Geode Capital Management LLC boosted its holdings in Ellington Credit by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 304,629 shares of the real estate investment trust’s stock valued at $2,018,000 after acquiring an additional 34,779 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Ellington Credit by 16.3% during the fourth quarter. Clear Harbor Asset Management LLC now owns 235,395 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 33,040 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Ellington Credit by 35.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 195,955 shares of the real estate investment trust’s stock worth $1,297,000 after purchasing an additional 51,345 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Ellington Credit in the fourth quarter worth about $955,000. 20.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EARN has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on Ellington Credit from $8.00 to $6.50 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. UBS Group lowered their price objective on shares of Ellington Credit from $6.50 to $5.25 and set a “neutral” rating on the stock in a research note on Thursday, April 17th.

Ellington Credit Trading Up 0.6 %

Shares of NYSE:EARN opened at $5.39 on Friday. The firm has a market capitalization of $202.44 million, a PE ratio of 4.81 and a beta of 1.74. Ellington Credit has a 1-year low of $4.33 and a 1-year high of $7.26. The business’s 50 day moving average is $5.59 and its 200-day moving average is $6.27.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The firm had revenue of $6.14 million for the quarter, compared to the consensus estimate of $9.65 million. On average, sell-side analysts predict that Ellington Credit will post 1.17 EPS for the current year.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.96 dividend on an annualized basis and a yield of 17.81%. Ellington Credit’s payout ratio is currently 320.00%.

Insiders Place Their Bets

In related news, Portfolio Manager Gregory Morris Borenstein acquired 8,000 shares of the company’s stock in a transaction on Wednesday, April 9th. The stock was purchased at an average cost of $4.73 per share, for a total transaction of $37,840.00. Following the completion of the purchase, the portfolio manager now directly owns 18,000 shares of the company’s stock, valued at $85,140. The trade was a 80.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Ellington Credit Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.