Virtu Financial LLC bought a new position in shares of Ellington Financial Inc (NYSE:EFC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,534 shares of the financial services provider’s stock, valued at approximately $189,000.
Several other hedge funds have also recently bought and sold shares of EFC. Advisor Group Inc. lifted its holdings in shares of Ellington Financial by 114.6% during the 4th 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. Acadian Asset Management LLC purchased a new stake in shares of Ellington Financial in the 4th quarter worth $82,000. Essex Savings Bank purchased a new stake in shares of Ellington Financial in the 4th quarter worth $100,000. Geode Capital Management LLC increased its stake in shares of Ellington Financial by 11.0% in the 4th quarter. Geode Capital Management LLC now owns 13,236 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 1,310 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new stake in shares of Ellington Financial in the 4th quarter worth $361,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.
Shares of Ellington Financial stock traded down $0.02 during trading on Wednesday, reaching $18.23. 82,900 shares of the stock traded hands, compared to its average volume of 153,124. The firm has a market cap of $542.34 million, a price-to-earnings ratio of 12.93 and a beta of 0.45. The company has a quick ratio of 1.77, a current ratio of 70.32 and a debt-to-equity ratio of 3.43. Ellington Financial Inc has a 52-week low of $14.69 and a 52-week high of $18.46.
Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. Ellington Financial had a return on equity of 8.19% and a net margin of 28.85%. The firm had revenue of $36.02 million during the quarter, compared to analyst estimates of $37.71 million. On average, equities analysts expect that Ellington Financial Inc will post 1.66 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 25th. Investors of record on Friday, May 31st will be issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.22%. The ex-dividend date is Thursday, May 30th. Ellington Financial’s payout ratio is 39.72%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Tuesday. Maxim Group reiterated a “buy” rating and issued a $19.50 price target on shares of Ellington Financial in a research note on Thursday, April 11th. Finally, B. Riley upgraded Ellington Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $18.00 in a research note on Thursday, February 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.10.
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Ellington Financial Profile
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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