BTIG Research Lowers Ellington Financial (NYSE:EFC) Price Target to $13.50

Ellington Financial (NYSE:EFC) had its price objective decreased by equities research analysts at BTIG Research from $15.50 to $13.50 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. BTIG Research’s price objective would suggest a potential upside of 21.46% from the stock’s current price.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods decreased their price objective on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Trading Up 0.8 %

Ellington Financial stock opened at $11.12 on Thursday. Ellington Financial has a 1 year low of $10.88 and a 1 year high of $14.21. The firm’s 50 day moving average price is $11.55 and its 200-day moving average price is $12.27. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. The stock has a market cap of $945.44 million, a P/E ratio of 12.35 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The company had revenue of $27.99 million for the quarter, compared to the consensus estimate of $30.77 million. During the same period last year, the company earned $0.42 EPS. On average, equities analysts predict that Ellington Financial will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MAS Advisors LLC purchased a new position in shares of Ellington Financial during the 1st quarter worth about $446,000. Bank of New York Mellon Corp raised its position in shares of Ellington Financial by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider’s stock worth $8,306,000 after purchasing an additional 3,263 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after buying an additional 759 shares during the last quarter. MetLife Investment Management LLC increased its stake in Ellington Financial by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock worth $512,000 after buying an additional 10,227 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Ellington Financial by 6.8% in the first quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider’s stock valued at $2,653,000 after acquiring an additional 9,534 shares in the last quarter. Institutional investors own 55.62% of the company’s stock.

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.