Zacks Investment Research downgraded shares of Ellington Financial LLC (NYSE:EFC) from a hold rating to a sell rating in a report published on Wednesday, August 9th.

According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “

EFC has been the topic of a number of other research reports. BidaskClub downgraded Ellington Financial from a hold rating to a sell rating in a report on Sunday, July 16th. FBR & Co reaffirmed a buy rating and set a $17.50 target price on shares of Ellington Financial in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $19.13.

Ellington Financial (NYSE EFC) traded down 0.12% on Wednesday, hitting $16.02. The stock had a trading volume of 44,714 shares. Ellington Financial has a 12-month low of $15.30 and a 12-month high of $18.04. The company has a market cap of $514.43 million, a price-to-earnings ratio of 23.52 and a beta of 0.44. The company’s 50 day moving average price is $16.16 and its 200-day moving average price is $16.24.

Ellington Financial (NYSE:EFC) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.06. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The firm had revenue of $22.66 million for the quarter, compared to the consensus estimate of $21.82 million. During the same period in the prior year, the business earned $0.15 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Ellington Financial will post $1.35 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.24%. The ex-dividend date of this dividend is Wednesday, August 30th. Ellington Financial’s payout ratio is 257.15%.

Hedge funds have recently made changes to their positions in the company. Nine Chapters Capital Management LLC bought a new stake in shares of Ellington Financial during the second quarter worth $172,000. Hancock Holding Co. bought a new stake in shares of Ellington Financial during the first quarter worth $188,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ellington Financial during the second quarter worth $216,000. Russell Investments Group Ltd. bought a new stake in shares of Ellington Financial during the second quarter worth $219,000. Finally, Citadel Advisors LLC bought a new stake in shares of Ellington Financial during the second quarter worth $277,000. Institutional investors and hedge funds own 51.00% of the company’s stock.

Ellington Financial Company Profile

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