Ellington Financial (NYSE:EFC – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Several other research analysts have also commented on the stock. JMP Securities raised their price objective on shares of Ellington Financial from $13.50 to $14.50 in a research note on Thursday, July 13th. Keefe, Bruyette & Woods raised shares of Ellington Financial from a “market perform” rating to an “outperform” rating and set a $13.75 price objective for the company in a research note on Monday, May 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.55.
Ellington Financial Price Performance
Shares of EFC opened at $14.07 on Thursday. Ellington Financial has a 1-year low of $10.81 and a 1-year high of $16.38. The stock has a market cap of $944.61 million, a PE ratio of -20.68 and a beta of 1.87. The firm has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $12.92. The company has a debt-to-equity ratio of 11.75, a current ratio of 46.90 and a quick ratio of 46.90.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in Ellington Financial by 13.6% in the second quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 4,000 shares during the last quarter. Claybrook Capital LLC boosted its holdings in shares of Ellington Financial by 92.2% in the 2nd quarter. Claybrook Capital LLC now owns 33,695 shares of the financial services provider’s stock valued at $465,000 after buying an additional 16,165 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Ellington Financial by 38.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,553 shares of the financial services provider’s stock valued at $256,000 after buying an additional 5,191 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Ellington Financial by 11.7% in the 1st quarter. Ameriprise Financial Inc. now owns 254,698 shares of the financial services provider’s stock valued at $3,114,000 after buying an additional 26,602 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ellington Financial by 9.2% in the 1st quarter. JPMorgan Chase & Co. now owns 312,790 shares of the financial services provider’s stock valued at $3,819,000 after buying an additional 26,447 shares in the last quarter. Hedge funds and other institutional investors own 50.57% of the company’s stock.
About Ellington Financial
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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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