Ellington Financial (NYSE:EFC) Cut to Hold at Zacks Investment Research

Ellington Financial (NYSE:EFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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. “

NYSE EFC traded down $0.74 during mid-day trading on Wednesday, reaching $18.14. The stock had a trading volume of 4,032,617 shares, compared to its average volume of 585,648. The stock has a market cap of $909.21 million, a PE ratio of 4.41 and a beta of 2.20. The company has a debt-to-equity ratio of 3.66, a current ratio of 21.48 and a quick ratio of 21.48. The company has a fifty day moving average price of $18.47 and a 200 day moving average price of $18.37. Ellington Financial has a 1 year low of $12.01 and a 1 year high of $19.60.

Ellington Financial (NYSE:EFC) last announced its earnings results on Thursday, August 5th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. The business had revenue of $34.72 million during the quarter, compared to analyst estimates of $29.89 million. Ellington Financial had a net margin of 155.44% and a return on equity of 9.96%. As a group, equities research analysts expect that Ellington Financial will post 1.86 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank grew its position in shares of Ellington Financial by 1.4% during the 1st quarter. Swiss National Bank now owns 95,100 shares of the financial services provider’s stock valued at $1,523,000 after acquiring an additional 1,300 shares during the period. BlackRock Inc. grew its position in shares of Ellington Financial by 5.2% during the 1st quarter. BlackRock Inc. now owns 4,434,633 shares of the financial services provider’s stock valued at $70,999,000 after acquiring an additional 218,616 shares during the period. UBS Group AG grew its position in shares of Ellington Financial by 168.0% during the 1st quarter. UBS Group AG now owns 203,329 shares of the financial services provider’s stock valued at $3,256,000 after acquiring an additional 127,473 shares during the period. JPMorgan Chase & Co. grew its position in shares of Ellington Financial by 249.0% during the 1st quarter. JPMorgan Chase & Co. now owns 571,875 shares of the financial services provider’s stock valued at $9,156,000 after acquiring an additional 408,035 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Ellington Financial by 90.0% during the 1st quarter. Prudential Financial Inc. now owns 289,619 shares of the financial services provider’s stock valued at $4,637,000 after acquiring an additional 137,210 shares during the period. Institutional investors and hedge funds own 61.08% of the company’s stock.

Ellington Financial Company Profile

Ellington Financial, Inc operates as an investment trust. The firm engages in the provision of investment services. It manages mortgage-backed assets, securities, loans and real estate debts. The company was founded on July 9, 2007 and is headquartered in Old Greenwich, CT.

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