Short Interest in Ellington Financial Inc. (NYSE:EFC) Declines By 5.6%

Ellington Financial Inc. (NYSE:EFC) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 6,090,000 shares, a decrease of 5.6% from the October 15th total of 6,450,000 shares. Based on an average trading volume of 749,000 shares, the days-to-cover ratio is presently 8.1 days.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EFC shares. StockNews.com began coverage on shares of Ellington Financial in a research note on Thursday, October 5th. They set a “hold” rating for the company. JMP Securities reissued a “market outperform” rating and set a $14.50 price objective on shares of Ellington Financial in a research note on Friday, July 21st. Finally, B. Riley assumed coverage on Ellington Financial in a research note on Thursday, October 19th. They issued a “buy” rating and a $15.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and a consensus target price of $14.31.

Ellington Financial Stock Down 1.6 %

EFC stock opened at $12.94 on Friday. Ellington Financial has a one year low of $10.81 and a one year high of $14.42. The firm has a market cap of $879.84 million, a PE ratio of 11.87 and a beta of 1.89. The firm’s 50 day moving average price is $12.63 and its 200-day moving average price is $12.98. The company has a debt-to-equity ratio of 12.48, a quick ratio of 39.81 and a current ratio of 39.81.

Ellington Financial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 13.92%. The ex-dividend date of this dividend is Wednesday, November 29th. Ellington Financial’s dividend payout ratio (DPR) is presently 165.14%.

Institutional Investors Weigh In On Ellington Financial

A number of institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC lifted its stake in Ellington Financial by 14.5% during the third quarter. Penserra Capital Management LLC now owns 36,874 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 4,664 shares in the last quarter. Townsquare Capital LLC increased its stake in Ellington Financial by 10.0% during the third quarter. Townsquare Capital LLC now owns 48,251 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 4,393 shares during the period. Legal & General Group Plc increased its stake in Ellington Financial by 11.7% during the third quarter. Legal & General Group Plc now owns 187,286 shares of the financial services provider’s stock worth $2,335,000 after purchasing an additional 19,562 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Ellington Financial by 7.0% in the third quarter. Ameriprise Financial Inc. now owns 264,317 shares of the financial services provider’s stock valued at $3,300,000 after purchasing an additional 17,230 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in Ellington Financial in the 3rd quarter valued at approximately $45,000. 50.18% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Financial

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