Ellington Financial’s (EFC) “Market Outperform” Rating Reiterated at JMP Securities

Ellington Financial (NYSE:EFCGet Free Report)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They presently have a $14.00 price target on the financial services provider’s stock. JMP Securities’ target price would indicate a potential upside of 11.60% from the company’s previous close.

Separately, B. Riley upgraded shares of Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.58.

Check Out Our Latest Report on Ellington Financial

Ellington Financial Stock Performance

Ellington Financial stock opened at $12.55 on Thursday. Ellington Financial has a fifty-two week low of $10.88 and a fifty-two week high of $13.46. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. The stock has a market cap of $1.14 billion, a P/E ratio of 9.58 and a beta of 1.97. The firm’s fifty day moving average price is $12.30 and its 200-day moving average price is $12.61.

Ellington Financial (NYSE:EFCGet Free Report) last issued its quarterly 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. The firm had revenue of $33.63 million during the quarter, compared to analyst estimates of $37.95 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities research analysts expect that Ellington Financial will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EFC. Thrivent Financial for Lutherans raised its holdings in Ellington Financial by 2.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 70,597 shares of the financial services provider’s stock valued at $853,000 after buying an additional 1,824 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Ellington Financial by 14.9% during the second quarter. Public Sector Pension Investment Board now owns 187,089 shares of the financial services provider’s stock valued at $2,260,000 after acquiring an additional 24,204 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Ellington Financial by 13.8% during the second quarter. Squarepoint Ops LLC now owns 110,274 shares of the financial services provider’s stock worth $1,332,000 after purchasing an additional 13,387 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Ellington Financial by 104.8% during the third quarter. SG Americas Securities LLC now owns 47,051 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 24,079 shares during the period. Finally, Creative Planning bought a new stake in shares of Ellington Financial in the third quarter worth about $141,000. Institutional investors own 55.62% of the company’s stock.

About Ellington Financial

(Get Free Report)

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.

See Also

Analyst Recommendations for Ellington Financial (NYSE:EFC)

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