StockNews.com Lowers Ellington Financial (NYSE:EFC) to Sell

Ellington Financial (NYSE:EFC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Separately, Keefe, Bruyette & Woods reduced their price objective on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Stock Up 1.3 %

NYSE:EFC opened at $11.27 on Wednesday. The company’s 50 day moving average is $11.54 and its two-hundred day moving average is $12.26. The company has a market cap of $958.20 million, a PE ratio of 12.52 and a beta of 1.92. Ellington Financial has a twelve month low of $10.88 and a twelve month high of $14.21. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The company had revenue of $27.99 million for the quarter, compared to analysts’ expectations of $30.77 million. Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. During the same period last year, the firm earned $0.42 earnings per share. Analysts anticipate that Ellington Financial will post 1.53 EPS for the current year.

Institutional Trading of Ellington Financial

A number of hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in Ellington Financial by 126.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 759 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Ellington Financial during the 2nd quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its stake in shares of Ellington Financial by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,086 shares during the period. Quantbot Technologies LP purchased a new stake in Ellington Financial during the first quarter worth $62,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Ellington Financial during the third quarter worth $45,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.