Ellington Financial LLC (EFC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Ellington Financial LLC (NYSE:EFC) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

Other equities analysts have also recently issued research reports about the company. FBR & Co reissued a buy rating and issued a $17.50 price target on shares of Ellington Financial in a research note on Monday, May 8th. BidaskClub cut Ellington Financial from a hold rating to a sell rating in a research note on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $19.13.

Ellington Financial (NYSE:EFC) remained flat at $16.25 during midday trading on Wednesday. The stock had a trading volume of 54,926 shares. The firm has a market capitalization of $521.82 million, a P/E ratio of 23.69 and a beta of 0.44. Ellington Financial has a 12 month low of $15.30 and a 12 month high of $18.04. The stock’s 50 day moving average price is $16.20 and its 200 day moving average price is $16.22.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. The company had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $21.82 million. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. On average, equities research analysts forecast that Ellington Financial will post $1.33 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.45 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 11.08%. Ellington Financial’s dividend payout ratio is currently 257.15%.

A number of institutional investors have recently modified their holdings of EFC. Nine Chapters Capital Management LLC bought a new position in shares of Ellington Financial during the second quarter worth $172,000. Hancock Holding Co. acquired a new position in Ellington Financial during the first quarter valued at $188,000. Cambridge Investment Research Advisors Inc. acquired a new position in Ellington Financial during the second quarter valued at $216,000. Russell Investments Group Ltd. acquired a new position in Ellington Financial during the second quarter valued at $219,000. Finally, Citadel Advisors LLC acquired a new position in Ellington Financial during the second quarter valued at $277,000. 51.12% of the stock is currently owned by hedge funds and other institutional investors.

Ellington Financial Company Profile

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