Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 309,800 shares, a drop of 32.1% from the May 31st total of 456,400 shares. Based on an average daily volume of 248,900 shares, the short-interest ratio is presently 1.2 days.

Ellington Credit Price Performance

EARN stock traded down $0.02 during trading on Friday, reaching $6.95. The company had a trading volume of 322,218 shares, compared to its average volume of 245,838. The company has a market cap of $139.97 million, a P/E ratio of 23.97 and a beta of 1.87. The business has a 50 day moving average of $6.99 and a 200 day moving average of $6.52. Ellington Credit has a 52 week low of $5.09 and a 52 week high of $7.64.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings results on Tuesday, May 14th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $4.02 million. During the same period in the previous year, the company posted $0.21 earnings per share. Research analysts expect that Ellington Credit will post 1.02 earnings per share for the current year.

Ellington Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 25th. Investors of record on Friday, June 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 13.81%. Ellington Credit’s payout ratio is 331.05%.

Analyst Ratings Changes

EARN has been the topic of a number of recent analyst reports. StockNews.com raised Ellington Credit from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Ellington Credit in a research report on Thursday, April 18th.

Hedge Funds Weigh In On Ellington Credit

Several hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC boosted its stake in shares of Ellington Credit by 21.8% during the 4th quarter. Wolverine Asset Management LLC now owns 92,527 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 16,532 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Ellington Credit in the fourth quarter valued at about $3,610,000. Quadrature Capital Ltd acquired a new stake in shares of Ellington Credit in the third quarter valued at approximately $184,000. Virtu Financial LLC purchased a new stake in Ellington Credit in the 4th quarter valued at approximately $217,000. Finally, Jump Financial LLC acquired a new stake in Ellington Credit during the 4th quarter valued at $171,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

About Ellington Credit

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.