Ellington Financial (NYSE:EFC – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
EFC has been the topic of several other reports. Weiss Ratings upgraded Ellington Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. BTIG Research downgraded Ellington Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen upgraded Ellington Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.88.
Get Our Latest Report on Ellington Financial
Ellington Financial Stock Up 1.3%
Ellington Financial (NYSE:EFC – Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.13. Ellington Financial had a net margin of 72.08% and a return on equity of 15.81%. The company had revenue of $188.83 million during the quarter, compared to the consensus estimate of $114.09 million. On average, sell-side analysts predict that Ellington Financial will post 1.95 EPS for the current fiscal year.
Institutional Trading of Ellington Financial
A number of hedge funds have recently modified their holdings of EFC. Sound Income Strategies LLC grew its holdings in Ellington Financial by 267.4% during the first quarter. Sound Income Strategies LLC now owns 2,208 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,607 shares during the period. Daytona Street Capital LLC purchased a new position in shares of Ellington Financial during the 4th quarter valued at approximately $34,000. REAP Financial Group LLC acquired a new position in shares of Ellington Financial in the 4th quarter valued at $36,000. Danske Bank A S acquired a new stake in Ellington Financial during the third quarter valued at $44,000. Finally, Huntington National Bank increased its holdings in Ellington Financial by 35.3% in the fourth quarter. Huntington National Bank now owns 4,136 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 55.62% of the company’s stock.
Ellington Financial Company Profile
Ellington Financial, Inc (NYSE: EFC) is a mortgage real estate investment trust (REIT) that focuses on generating attractive risk-adjusted returns through investments in residential and commercial mortgage-related assets. Established in 2013, the company is externally managed by Ellington Financial Management, L.P., a subsidiary of Ellington Management Group, an alternative asset management firm. EFC’s core strategy centers on actively acquiring and managing agency and non-agency residential mortgage-backed securities (MBS), mortgage servicing rights, residential whole loans, and other structured finance instruments, including asset-backed securities and commercial mortgage-backed securities (CMBS).
The company employs leverage and structured financing tools—such as repurchase agreements and secured credit facilities—to enhance portfolio yield while maintaining focus on risk mitigation.
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