StockNews.com Downgrades Ellington Financial (NYSE:EFC) to Sell

Ellington Financial (NYSE:EFC) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Separately, Keefe, Bruyette & Woods dropped their price objective on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating for the company in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.06.

Ellington Financial Trading Up 0.8 %

Shares of EFC traded up $0.09 during trading on Wednesday, reaching $11.12. 605,041 shares of the company traded hands, compared to its average volume of 1,126,650. Ellington Financial has a twelve month low of $10.88 and a twelve month high of $14.21. The stock has a market cap of $945.44 million, a PE ratio of 12.35 and a beta of 1.92. The stock has a 50-day simple moving average of $11.55 and a 200-day simple moving average of $12.27. The company has a quick ratio of 46.75, a current ratio of 46.75 and a debt-to-equity ratio of 11.30.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $30.77 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, analysts anticipate that Ellington Financial will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On Ellington Financial

Large investors have recently modified their holdings of the company. MAS Advisors LLC acquired a new position in shares of Ellington Financial in the 1st quarter valued at $446,000. Bank of New York Mellon Corp boosted its holdings in shares of Ellington Financial by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider’s stock valued at $8,306,000 after buying an additional 3,263 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $25,000 after buying an additional 759 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Ellington Financial by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock valued at $512,000 after buying an additional 10,227 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Ellington Financial by 6.8% during the 1st quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider’s stock worth $2,653,000 after purchasing an additional 9,534 shares during the period. 55.62% of the stock is owned by hedge funds and other institutional investors.

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.