Ellington Financial LLC (EFC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ellington Financial LLC (NYSE:EFC) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “

A number of other research firms have also recently weighed in on EFC. Maxim Group restated a buy rating and issued a $20.00 price target on shares of Ellington Financial in a report on Monday. BidaskClub cut Ellington Financial from a sell rating to a strong sell rating in a report on Monday, July 31st. Finally, ValuEngine upgraded Ellington Financial from a hold rating to a buy rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.75.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $22.66 million during the quarter, compared to analyst estimates of $21.82 million. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS.

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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 11.52%. The ex-dividend date of this dividend was Wednesday, August 30th. Ellington Financial’s dividend payout ratio (DPR) is presently 257.15%.

A number of large investors have recently made changes to their positions in EFC. Ranger Global Real Estate Advisors LLC acquired a new stake in Ellington Financial during the 1st quarter valued at $11,078,000. FMR LLC grew its holdings in Ellington Financial by 24.0% during the 2nd quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after buying an additional 294,734 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Ellington Financial during the 2nd quarter valued at $1,245,000. HighTower Advisors LLC acquired a new stake in Ellington Financial during the 2nd quarter valued at $1,003,000. Finally, Acadian Asset Management LLC grew its holdings in Ellington Financial by 319.4% during the 2nd quarter. Acadian Asset Management LLC now owns 78,507 shares of the financial services provider’s stock valued at $1,272,000 after buying an additional 59,788 shares during the last quarter. Hedge funds and other institutional investors own 50.54% of the company’s stock.

Ellington Financial Company Profile

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