Ellington Financial Inc. (NYSE:EFC – Get Free Report) 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 %
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.
- Five stocks we like better than Ellington Financial
- Pros And Cons Of Monthly Dividend Stocks
- Williams-Sonoma is a steal for buy-and-hold investors
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- A closer look at Warren Buffett’s latest surprise purchase
- How to Use the MarketBeat Stock Split Calculator
- GE stock surges to six-year high: What’s behind the move?
Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.