ValuEngine Upgrades Ellington Financial (EFC) to “Buy”

Ellington Financial (NYSE:EFC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other research firms have also recently commented on EFC. Zacks Investment Research cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Maxim Group restated a “buy” rating and set a $20.00 price target on shares of Ellington Financial in a report on Monday, October 9th. B. Riley cut shares of Ellington Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $17.50 to $16.00 in a report on Wednesday, November 8th. Finally, Keefe, Bruyette & Woods set a $17.00 price target on shares of Ellington Financial and gave the company a “hold” rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Ellington Financial presently has an average rating of “Hold” and an average target price of $17.50.

Ellington Financial (EFC) traded up $0.02 during trading on Friday, hitting $14.97. 159,010 shares of the stock traded hands, compared to its average volume of 99,737. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90. Ellington Financial has a fifty-two week low of $14.76 and a fifty-two week high of $17.00. The stock has a market cap of $477.63, a PE ratio of 13.13 and a beta of 0.41.

Several hedge funds have recently added to or reduced their stakes in EFC. FMR LLC lifted its stake in shares of Ellington Financial by 24.0% in the 2nd quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after purchasing an additional 294,734 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Ellington Financial during the 2nd quarter worth $1,245,000. HighTower Advisors LLC acquired a new position in Ellington Financial during the 2nd quarter worth $1,003,000. Acadian Asset Management LLC lifted its position 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 worth $1,272,000 after acquiring an additional 59,788 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its position in Ellington Financial by 254.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock worth $717,000 after acquiring an additional 31,768 shares during the last quarter. 45.89% of the stock is owned by institutional investors and hedge funds.

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