Short Interest in Ellington Financial Inc (NYSE:EFC) Expands By 55.0%

Ellington Financial Inc (NYSE:EFC) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 110,700 shares, an increase of 55.0% from the May 30th total of 71,400 shares. Based on an average trading volume of 255,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the stock are short sold.

Ellington Financial stock traded up $0.06 during midday trading on Thursday, hitting $18.20. The company’s stock had a trading volume of 188,700 shares, compared to its average volume of 208,243. The company has a debt-to-equity ratio of 3.43, a current ratio of 70.32 and a quick ratio of 70.32. The business’s 50-day simple moving average is $17.97. Ellington Financial has a 12 month low of $14.69 and a 12 month high of $18.49. The firm has a market capitalization of $538.10 million, a P/E ratio of 12.91 and a beta of 0.46.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The firm had revenue of $36.02 million for the quarter, compared to the consensus estimate of $37.71 million. Ellington Financial had a return on equity of 8.19% and a net margin of 28.85%. As a group, equities analysts predict that Ellington Financial will post 1.69 EPS for the current fiscal year.



The business also recently disclosed a monthly dividend, which will be paid on Monday, August 26th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.68 annualized dividend and a yield of 9.23%. Ellington Financial’s payout ratio is presently 119.15%.

A number of hedge funds and other institutional investors have recently bought and sold shares of EFC. ClariVest Asset Management LLC acquired a new stake in Ellington Financial during the 1st quarter worth about $6,915,000. Marshall Wace LLP acquired a new stake in Ellington Financial during the 1st quarter worth about $3,045,000. Nordea Investment Management AB raised its holdings in Ellington Financial by 145,997.1% during the 1st quarter. Nordea Investment Management AB now owns 102,268 shares of the financial services provider’s stock worth $1,830,000 after buying an additional 102,198 shares during the period. Acadian Asset Management LLC raised its holdings in Ellington Financial by 1,657.2% during the 1st quarter. Acadian Asset Management LLC now owns 94,452 shares of the financial services provider’s stock worth $1,691,000 after buying an additional 89,077 shares during the period. Finally, Barclays PLC raised its holdings in Ellington Financial by 264.8% during the 4th quarter. Barclays PLC now owns 109,715 shares of the financial services provider’s stock worth $1,682,000 after buying an additional 79,638 shares during the period. Hedge funds and other institutional investors own 53.34% of the company’s stock.

Several brokerages have commented on EFC. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Maxim Group reiterated a “buy” rating and issued a $20.00 price target on shares of Ellington Financial in a research report on Thursday, July 4th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.20.

Ellington Financial Company Profile

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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