Ellington Financial Inc. (NYSE:EFC) Short Interest Update

Ellington Financial Inc. (NYSE:EFC) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 5,220,000 shares, an increase of 30.5% from the May 15th total of 4,000,000 shares. Based on an average trading volume of 831,000 shares, the short-interest ratio is currently 6.3 days.

Analysts Set New Price Targets

EFC has been the topic of several research analyst reports. StockNews.com raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. BTIG Research decreased their price target on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a report on Thursday, April 18th. JMP Securities reaffirmed a “market outperform” rating and set a $14.50 price objective on shares of Ellington Financial in a report on Thursday, April 18th. Jonestrading assumed coverage on shares of Ellington Financial in a research report on Friday, April 19th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods lowered their price target on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ellington Financial currently has an average rating of “Moderate Buy” and an average price target of $13.95.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of Ellington Financial by 35.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares during the last quarter. Optimum Investment Advisors raised its position in Ellington Financial by 8.4% in the 4th quarter. Optimum Investment Advisors now owns 12,900 shares of the financial services provider’s stock worth $164,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its position in Ellington Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,246 shares of the financial services provider’s stock worth $180,000 after buying an additional 1,057 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Ellington Financial by 5.2% during the 4th quarter. New York State Teachers Retirement System now owns 22,100 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 1,100 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Ellington Financial by 42.8% during the 4th quarter. Private Trust Co. NA now owns 4,334 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,299 shares during the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

Ellington Financial Trading Down 0.4 %

NYSE:EFC traded down $0.05 during trading hours on Friday, reaching $12.06. The company’s stock had a trading volume of 484,732 shares, compared to its average volume of 757,096. The company has a debt-to-equity ratio of 10.99, a quick ratio of 46.79 and a current ratio of 46.79. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 18.84 and a beta of 1.95. The firm has a 50-day simple moving average of $11.76 and a 200-day simple moving average of $12.06. Ellington Financial has a 1 year low of $10.88 and a 1 year high of $14.21.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Ellington Financial had a net margin of 66.65% and a return on equity of 10.51%. The company had revenue of $31.06 million for the quarter, compared to the consensus estimate of $26.68 million. Research analysts expect that Ellington Financial will post 1.46 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Friday, June 28th will be given a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.94%. The ex-dividend date is Friday, June 28th. Ellington Financial’s payout ratio is currently 243.75%.

Ellington Financial Company Profile

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.