Ellington Financial (EFC) Insider Buys $1,263,154.85 in Stock

Ellington Financial (NYSE:EFC) insider Michael W. Vranos bought 79,795 shares of the company’s stock in a transaction on Monday, May 14th. The stock was bought at an average cost of $15.83 per share, for a total transaction of $1,263,154.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ellington Financial opened at $16.02 on Friday, Marketbeat.com reports. Ellington Financial has a 1-year low of $16.01 and a 1-year high of $16.06. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market capitalization of $484.45 million, a PE ratio of 15.29 and a beta of 0.30.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.04). Ellington Financial had a return on equity of 5.39% and a net margin of 40.17%. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $24.63 million. research analysts anticipate that Ellington Financial will post 1.4 EPS for the current fiscal year.

Ellington Financial declared that its board has authorized a stock buyback program on Tuesday, February 13th that allows the company to repurchase 1,550,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.24%. The ex-dividend date is Thursday, May 31st. Ellington Financial’s dividend payout ratio is currently 151.85%.

Several hedge funds have recently bought and sold shares of the company. Ranger Global Real Estate Advisors LLC raised its stake in shares of Ellington Financial by 1.4% in the fourth quarter. Ranger Global Real Estate Advisors LLC now owns 686,512 shares of the financial services provider’s stock worth $9,961,000 after purchasing an additional 9,450 shares during the last quarter. Wasatch Advisors Inc. purchased a new position in shares of Ellington Financial in the fourth quarter worth $222,000. Edge Wealth Management LLC raised its stake in shares of Ellington Financial by 640.0% in the fourth quarter. Edge Wealth Management LLC now owns 18,500 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 16,000 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Ellington Financial in the first quarter worth $361,000. Finally, Mutual of America Capital Management LLC raised its stake in shares of Ellington Financial by 5.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 455,306 shares of the financial services provider’s stock worth $6,606,000 after purchasing an additional 25,303 shares during the last quarter. Hedge funds and other institutional investors own 45.62% of the company’s stock.

Several research firms have commented on EFC. Keefe, Bruyette & Woods set a $17.00 target price on Ellington Financial and gave the stock a “hold” rating in a report on Saturday, February 17th. B. Riley set a $16.00 target price on Ellington Financial and gave the stock a “hold” rating in a report on Thursday, February 15th. Zacks Investment Research raised Ellington Financial from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine downgraded Ellington Financial from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Maxim Group reissued a “buy” rating and issued a $19.00 target price on shares of Ellington Financial in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $17.20.

About Ellington Financial

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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