Ellington Financial (NYSE:EFC) Sees Strong Trading Volume – Here’s Why

Ellington Financial Inc. (NYSE:EFC) saw an uptick in trading volume on Friday . 183,612 shares traded hands during mid-day trading, a decline of 53% from the previous session’s volume of 393,234 shares.The stock last traded at $12.26 and had previously closed at $12.16.

Ellington Financial Stock Up 1.5 %

The firm has a market cap of $1.12 billion, a P/E ratio of 9.42 and a beta of 1.97. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87. The business has a 50-day moving average price of $12.27 and a 200-day moving average price of $12.59.

Ellington Financial (NYSE:EFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The company had revenue of $33.63 million for the quarter, compared to analysts’ expectations of $37.95 million. During the same period in the prior year, the business earned $0.33 EPS. On average, equities analysts forecast that Ellington Financial Inc. will post 1.37 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 27th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 12.64%. The ex-dividend date is Tuesday, December 31st. Ellington Financial’s payout ratio is 119.08%.

Insiders Place Their Bets

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $12.48, for a total value of $174,720.00. Following the completion of the transaction, the executive now directly owns 168,359 shares in the company, valued at approximately $2,101,120.32. The trade was a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Trading of Ellington Financial

A number of institutional investors have recently modified their holdings of EFC. Harbor Capital Advisors Inc. lifted its position in Ellington Financial by 146.5% during the third quarter. Harbor Capital Advisors Inc. now owns 726,779 shares of the financial services provider’s stock valued at $9,368,000 after acquiring an additional 431,945 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Ellington Financial by 1,667.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 266,746 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Ellington Financial in the 2nd quarter worth $2,968,000. State Street Corp grew its stake in Ellington Financial by 4.1% during the 3rd quarter. State Street Corp now owns 3,140,371 shares of the financial services provider’s stock worth $40,885,000 after buying an additional 124,943 shares during the last quarter. Finally, Barclays PLC increased its position in Ellington Financial by 230.3% during the 3rd quarter. Barclays PLC now owns 138,440 shares of the financial services provider’s stock valued at $1,784,000 after buying an additional 96,525 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors.

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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.