Ellington Financial (NYSE:EFC) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Ellington Financial Inc. (NYSE:EFC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.32 and traded as high as $13.78. Ellington Financial shares last traded at $13.6550, with a volume of 930,252 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EFC. Zacks Research cut Ellington Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ellington Financial in a report on Wednesday, October 8th. Finally, UBS Group increased their price target on shares of Ellington Financial from $12.50 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ellington Financial has an average rating of “Moderate Buy” and a consensus target price of $14.46.

Ellington Financial Trading Down 0.3%

The business has a 50-day moving average of $13.60 and a 200-day moving average of $13.32. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 10.19 and a beta of 0.95. The company has a debt-to-equity ratio of 10.64, a quick ratio of 50.60 and a current ratio of 50.60.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Ellington Financial had a return on equity of 14.55% and a net margin of 89.04%.The company had revenue of $242.08 million during the quarter, compared to analysts’ expectations of $121.99 million. As a group, research analysts forecast that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.13 dividend. The ex-dividend date is Wednesday, December 31st. This represents a c) annualized dividend and a yield of 11.4%. Ellington Financial’s dividend payout ratio is presently 116.42%.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors have recently made changes to their positions in the stock. Danske Bank A S purchased a new position in shares of Ellington Financial in the 3rd quarter valued at about $44,000. Caxton Associates LLP purchased a new stake in Ellington Financial during the third quarter worth about $1,218,000. Dark Forest Capital Management LP acquired a new position in Ellington Financial during the third quarter worth about $3,718,000. Mercer Global Advisors Inc. ADV purchased a new position in Ellington Financial in the third quarter valued at about $192,000. Finally, Millennium Management LLC purchased a new position in Ellington Financial in the third quarter valued at about $4,941,000. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

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.