Ellington Credit (NYSE:EARN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Ellington Credit Company (NYSE:EARN) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.82 and traded as low as $4.32. Ellington Credit shares last traded at $4.3250, with a volume of 677,557 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Piper Sandler decreased their target price on Ellington Credit from $5.25 to $5.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Ellington Credit Price Performance

The stock has a market capitalization of $162.53 million, a PE ratio of -4.16 and a beta of 1.27. The stock’s 50 day simple moving average is $4.58 and its two-hundred day simple moving average is $4.82.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $9.87 million for the quarter, compared to the consensus estimate of $10.57 million.

Ellington Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 22.2%. The ex-dividend date of this dividend is Friday, July 31st. Ellington Credit’s dividend payout ratio (DPR) is currently -92.31%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in Ellington Credit by 485.8% in the 1st quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock worth $5,044,000 after acquiring an additional 773,169 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Ellington Credit by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock valued at $686,000 after purchasing an additional 45,845 shares during the last quarter. Jane Street Group LLC boosted its position in Ellington Credit by 415.4% during the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock worth $2,055,000 after purchasing an additional 306,192 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Ellington Credit in the second quarter worth about $83,000. Finally, Vident Advisory LLC increased its stake in shares of Ellington Credit by 109.1% in the second quarter. Vident Advisory LLC now owns 36,350 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 18,967 shares in the last quarter. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.