Ellington Financial Inc (NYSE:EFC) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 504,500 shares, a drop of 20.0% from the June 30th total of 630,600 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily volume of 348,100 shares, the days-to-cover ratio is presently 1.4 days.
Shares of EFC traded up $0.19 during trading hours on Thursday, reaching $17.61. 6,189 shares of the company’s stock traded hands, compared to its average volume of 430,978. The company has a market capitalization of $599.77 million, a PE ratio of 12.44 and a beta of 0.45. The company has a debt-to-equity ratio of 3.43, a quick ratio of 70.32 and a current ratio of 70.32. The firm’s 50 day simple moving average is $17.79. Ellington Financial has a 12 month low of $14.69 and a 12 month high of $18.50.
Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. The firm had revenue of $38.55 million during the quarter, compared to the consensus estimate of $37.46 million. Ellington Financial had a return on equity of 8.67% and a net margin of 21.99%. Analysts expect that Ellington Financial will post 1.71 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.54%. Ellington Financial’s dividend payout ratio is 119.15%.
Several research analysts have commented on EFC shares. Zacks Investment Research upgraded Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research note on Friday, July 19th. Maxim Group restated a “buy” rating and issued a $20.00 target price on shares of Ellington Financial in a research note on Friday, August 9th.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in shares of Ellington Financial by 108.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,550 shares of the financial services provider’s stock valued at $28,000 after buying an additional 808 shares during the period. Hilton Capital Management LLC purchased a new position in shares of Ellington Financial during the first quarter valued at approximately $45,000. Advisor Group Inc. increased its stake in shares of Ellington Financial by 114.6% during the fourth quarter. Advisor Group Inc. now owns 3,980 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,125 shares during the period. Strs Ohio purchased a new position in shares of Ellington Financial during the second quarter valued at approximately $129,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Ellington Financial during the first quarter valued at approximately $175,000. 53.66% of the stock is currently owned by institutional investors.
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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