Ranger Global Real Estate Advisors LLC reduced its position in Ellington Financial LLC (NYSE:EFC) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 628,463 shares of the financial services provider’s stock after selling 58,049 shares during the period. Ellington Financial makes up about 3.0% of Ranger Global Real Estate Advisors LLC’s holdings, making the stock its 12th biggest holding. Ranger Global Real Estate Advisors LLC owned approximately 2.08% of Ellington Financial worth $9,308,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Ellington Financial in the 1st quarter valued at about $361,000. Wasatch Advisors Inc. boosted its position in Ellington Financial by 138.6% in the 1st quarter. Wasatch Advisors Inc. now owns 36,500 shares of the financial services provider’s stock valued at $541,000 after buying an additional 21,200 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ellington Financial by 14.9% in the 4th quarter. Renaissance Technologies LLC now owns 218,564 shares of the financial services provider’s stock valued at $3,171,000 after buying an additional 28,320 shares during the last quarter. Beach Point Capital Management LP purchased a new position in Ellington Financial in the 4th quarter valued at about $3,500,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Ellington Financial by 68.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,328 shares of the financial services provider’s stock valued at $3,879,000 after buying an additional 108,294 shares during the last quarter. 46.03% of the stock is owned by institutional investors.
EFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods set a $17.00 price objective on shares of Ellington Financial and gave the company a “hold” rating in a research report on Saturday, February 17th. Maxim Group reissued a “buy” rating and issued a $19.00 price objective on shares of Ellington Financial in a research report on Monday, April 9th. Zacks Investment Research upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. B. Riley set a $16.00 target price on shares of Ellington Financial and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, ValuEngine lowered shares of Ellington Financial from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.20.
Shares of Ellington Financial opened at $15.86 on Thursday, MarketBeat Ratings reports. The stock has a market capitalization of $480.23 million, a PE ratio of 14.69 and a beta of 0.34. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 2.63. Ellington Financial LLC has a 1 year low of $14.12 and a 1 year high of $16.83.
Ellington Financial (NYSE:EFC) last issued its earnings results on Monday, May 7th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.36. The business had revenue of $28.81 million for the quarter, compared to analyst estimates of $26.41 million. Ellington Financial had a net margin of 40.17% and a return on equity of 5.39%. sell-side analysts forecast that Ellington Financial LLC will post 1.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.41 dividend. The ex-dividend date is Thursday, May 31st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.34%. Ellington Financial’s dividend payout ratio (DPR) is presently 151.85%.
Ellington Financial announced that its board has authorized a stock repurchase program on Tuesday, February 13th that allows the company to buyback 1,550,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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.
Want to see what other hedge funds are holding EFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Financial LLC (NYSE:EFC).
Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.