Ellington Financial (EFC) Rating Increased to Hold at Zacks Investment Research

Ellington Financial (NYSE:EFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

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EFC has been the topic of several other research reports. Maxim Group reissued a “buy” rating and set a $19.00 price target on shares of Ellington Financial in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods set a $17.00 price target on shares of Ellington Financial and gave the stock a “hold” rating in a research report on Saturday, February 17th. B. Riley set a $16.00 price target on shares of Ellington Financial and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, ValuEngine cut shares of Ellington Financial from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.25.



Shares of EFC opened at $14.79 on Wednesday. The stock has a market cap of $466.93, a PE ratio of 13.69 and a beta of 0.31. Ellington Financial has a 1 year low of $14.12 and a 1 year high of $17.00. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.07 and a current ratio of 3.07.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.04). The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $24.63 million. Ellington Financial had a return on equity of 5.53% and a net margin of 36.17%. analysts predict that Ellington Financial will post 1.38 EPS for the current year.

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

Several hedge funds have recently added to or reduced their stakes in EFC. BBR Partners LLC increased its stake in shares of Ellington Financial by 45.9% during the fourth quarter. BBR Partners LLC now owns 1,208,757 shares of the financial services provider’s stock worth $17,539,000 after buying an additional 380,000 shares during the period. Beach Point Capital Management LP purchased a new stake in shares of Ellington Financial during the fourth quarter worth approximately $3,500,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Ellington Financial by 68.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,328 shares of the financial services provider’s stock worth $3,879,000 after buying an additional 108,294 shares during the period. West Family Investments Inc. increased its stake in shares of Ellington Financial by 10.7% during the fourth quarter. West Family Investments Inc. now owns 489,584 shares of the financial services provider’s stock worth $7,104,000 after buying an additional 47,240 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Ellington Financial by 14.9% during the fourth quarter. Renaissance Technologies LLC now owns 218,564 shares of the financial services provider’s stock worth $3,171,000 after buying an additional 28,320 shares during the period. Hedge funds and other institutional investors own 45.41% of the company’s stock.

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About Ellington Financial

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. It primarily 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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Analyst Recommendations for Ellington Financial (NYSE:EFC)

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