Ellington Financial (NYSE:EFC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Ellington Financial Inc. (NYSE:EFC – Get Free Report)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.32 and traded as high as $13.78. Ellington Financial shares last traded at $13.6550, with a volume of 930,252 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on EFC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ellington Financial in a research report on Wednesday, October 8th. Zacks Research downgraded Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, UBS Group lifted their target price on Ellington Financial from $12.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.46.

View Our Latest Report on Ellington Financial

Ellington Financial Trading Down 0.3%

The company has a quick ratio of 50.60, a current ratio of 50.60 and a debt-to-equity ratio of 10.64. The firm’s 50 day moving average is $13.60 and its two-hundred day moving average is $13.33. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 10.19 and a beta of 0.95.

Ellington Financial (NYSE:EFC – Get Free Report) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. The company had revenue of $242.08 million during the quarter, compared to analyst estimates of $121.99 million. Ellington Financial had a return on equity of 14.55% and a net margin of 89.04%. Equities analysts anticipate that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) annualized dividend and a yield of 11.4%. Ellington Financial’s dividend payout ratio (DPR) is currently 116.42%.

Hedge Funds Weigh In On Ellington Financial

Institutional investors have recently modified their holdings of the company. Danske Bank A S acquired a new stake in shares of Ellington Financial in the 3rd quarter worth about $44,000. Caxton Associates LLP bought a new stake in shares of Ellington Financial during the third quarter valued at approximately $1,218,000. Dark Forest Capital Management LP bought a new stake in shares of Ellington Financial during the third quarter valued at approximately $3,718,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Ellington Financial during the third quarter worth approximately $192,000. Finally, Millennium Management LLC bought a new position in Ellington Financial in the 3rd quarter worth approximately $4,941,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

(Get Free Report)

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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.

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