Ellington Financial (NYSE:EFC) Stock Price Passes Above 200-Day Moving Average of $11.99

Ellington Financial Inc. (NYSE:EFC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.99 and traded as high as $12.13. Ellington Financial shares last traded at $11.87, with a volume of 1,027,515 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EFC. Jonestrading began coverage on Ellington Financial in a report on Friday, April 19th. They issued a “hold” rating for the company. BTIG Research lowered their target price on Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a report on Thursday, April 18th. JMP Securities restated a “market outperform” rating and set a $14.50 target price on shares of Ellington Financial in a report on Thursday, April 18th. Finally, StockNews.com upgraded Ellington Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ellington Financial presently has a consensus rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Stock Down 0.2 %

The business has a 50 day moving average of $11.97 and a 200-day moving average of $11.99. The stock has a market cap of $1.03 billion, a PE ratio of 18.95 and a beta of 1.98. The company has a current ratio of 46.79, a quick ratio of 46.79 and a debt-to-equity ratio of 10.99.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). The firm had revenue of $31.06 million for the quarter, compared to analysts’ expectations of $26.68 million. Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. Equities research analysts predict that Ellington Financial Inc. will post 1.48 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Friday, June 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.56 annualized dividend and a dividend yield of 12.86%. Ellington Financial’s dividend payout ratio (DPR) is currently 243.75%.

Insider Buying and Selling at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of Ellington Financial stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.11, for a total value of $100,513.00. Following the transaction, the executive now directly owns 169,174 shares in the company, valued at approximately $2,048,697.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CIO Michael W. Vranos sold 8,300 shares of Ellington Financial stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.11, for a total value of $100,513.00. Following the sale, the executive now directly owns 169,174 shares in the company, valued at $2,048,697.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CIO Michael W. Vranos sold 5,900 shares of Ellington Financial stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $12.12, for a total value of $71,508.00. Following the transaction, the executive now directly owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,500 shares of company stock worth $272,866. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ellington Financial

Several hedge funds and other institutional investors have recently bought and sold shares of EFC. Virtu Financial LLC acquired a new position in shares of Ellington Financial in the first quarter worth $163,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Ellington Financial by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,094 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 2,500 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Ellington Financial by 6.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 105,288 shares of the financial services provider’s stock worth $1,242,000 after acquiring an additional 6,517 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Ellington Financial in the first quarter worth $358,000. Finally, MAS Advisors LLC raised its holdings in shares of Ellington Financial by 31.5% in the first quarter. MAS Advisors LLC now owns 37,265 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 8,930 shares during the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.

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.