Ellington Financial (EFC) Sets New 1-Year High at $16.85

Ellington Financial LLC (NYSE:EFC) hit a new 52-week high on Monday . The company traded as high as $16.85 and last traded at $16.84, with a volume of 70998 shares. The stock had previously closed at $16.80.

A number of brokerages have recently weighed in on EFC. Maxim Group restated a “buy” rating and issued a $19.50 price objective on shares of Ellington Financial in a report on Thursday, January 24th. Zacks Investment Research lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Finally, TheStreet raised shares of Ellington Financial from a “c” rating to a “b” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.10.

The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $504.17 million, a P/E ratio of 15.59 and a beta of 0.45.



In other news, CEO Laurence Penn bought 28,631 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average cost of $16.15 per share, with a total value of $462,390.65. Following the completion of the purchase, the chief executive officer now directly owns 105,563 shares in the company, valued at $1,704,842.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. California Public Employees Retirement System purchased a new position in Ellington Financial during the 4th quarter valued at $361,000. BBR Partners LLC increased its position in Ellington Financial by 29.1% during the 4th quarter. BBR Partners LLC now owns 1,560,501 shares of the financial services provider’s stock valued at $23,922,000 after purchasing an additional 351,744 shares during the period. Acadian Asset Management LLC purchased a new position in Ellington Financial during the 4th quarter valued at $82,000. Essex Savings Bank purchased a new position in Ellington Financial during the 4th quarter valued at $100,000. Finally, Morgan Stanley increased its position in Ellington Financial by 0.6% during the 3rd quarter. Morgan Stanley now owns 1,116,239 shares of the financial services provider’s stock valued at $17,872,000 after purchasing an additional 6,282 shares during the period. 46.61% of the stock is currently owned by institutional investors and hedge funds.

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About Ellington Financial (NYSE:EFC)

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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