AlphaQuest LLC Takes Position in Ellington Financial Inc. (NYSE:EFC)

AlphaQuest LLC purchased a new stake in shares of Ellington Financial Inc. (NYSE:EFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,066 shares of the financial services provider’s stock, valued at approximately $37,000.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Ellington Financial by 18,200.0% during the fourth quarter. Larson Financial Group LLC now owns 2,562 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 2,548 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Ellington Financial by 162.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,610 shares during the period. McIlrath & Eck LLC acquired a new position in Ellington Financial in the third quarter valued at approximately $62,000. Prospera Private Wealth LLC acquired a new position in Ellington Financial in the third quarter valued at approximately $68,000. Finally, Atom Investors LP acquired a new position in Ellington Financial in the third quarter valued at approximately $130,000. 55.62% of the stock is owned by institutional investors.

Ellington Financial Trading Up 0.2 %

EFC opened at $13.44 on Friday. The firm’s fifty day moving average is $12.95 and its two-hundred day moving average is $12.66. 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 firm has a market cap of $1.22 billion, a PE ratio of 10.26 and a beta of 1.99. Ellington Financial Inc. has a twelve month low of $10.88 and a twelve month high of $14.40.

Ellington Financial (NYSE:EFC) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.07. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The company had revenue of $38.13 million for the quarter, compared to analyst estimates of $112.88 million. Equities research analysts anticipate that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The business also recently disclosed a mar 25 dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.13 per share. This represents a dividend yield of 11.7%. The ex-dividend date is Monday, March 31st. Ellington Financial’s dividend payout ratio is 113.04%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EFC. Keefe, Bruyette & Woods increased their price objective on shares of Ellington Financial from $13.75 to $14.50 and gave the company an “outperform” rating in a report on Monday, March 3rd. B. Riley upgraded shares of Ellington Financial to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $14.00 price objective on shares of Ellington Financial in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ellington Financial presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.