Ellington Financial (NYSE:EFC) Stock Passes Above 200-Day Moving Average of $11.99

Shares of Ellington Financial Inc. (NYSE:EFC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.99 and traded as high as $12.13. Ellington Financial shares last traded at $11.87, with a volume of 1,027,515 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on EFC. Jonestrading began coverage on shares of Ellington Financial in a research note on Friday, April 19th. They set a “hold” rating on the stock. StockNews.com upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and set a $14.50 price objective on shares of Ellington Financial in a research report on Thursday, April 18th. Finally, BTIG Research reduced their target price on Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ellington Financial currently has a consensus rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Stock Performance

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 18.54 and a beta of 1.98. The company has a current ratio of 46.79, a quick ratio of 46.79 and a debt-to-equity ratio of 10.99. The stock’s 50-day moving average is $11.94 and its 200-day moving average is $11.99.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.07). Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. The company had revenue of $31.06 million for the quarter, compared to analyst estimates of $26.68 million. On average, analysts predict that Ellington Financial Inc. will post 1.48 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Friday, June 28th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.56 annualized dividend and a yield of 13.15%. Ellington Financial’s dividend payout ratio is presently 243.75%.

Insider Transactions at Ellington Financial

In related news, CIO Michael W. Vranos sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $12.15, for a total value of $100,845.00. Following the completion of the transaction, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Ellington Financial in the 1st quarter valued at about $163,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Ellington Financial by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,094 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 2,500 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Ellington Financial by 6.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 105,288 shares of the financial services provider’s stock valued at $1,242,000 after acquiring an additional 6,517 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Ellington Financial during the 1st quarter valued at approximately $358,000. Finally, MAS Advisors LLC raised its holdings in Ellington Financial by 31.5% during the 1st quarter. MAS Advisors LLC now owns 37,265 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 8,930 shares during the last quarter. 55.62% of the stock is owned by institutional investors.

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.