Ellington Financial (NYSE:EFC) Stock Price Passes Above 200-Day Moving Average of $11.99

Ellington Financial Inc. (NYSE:EFC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.99 and traded as high as $12.13. Ellington Financial shares last traded at $11.87, with a volume of 1,027,515 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $14.50 price objective on shares of Ellington Financial in a research report on Thursday, April 18th. Jonestrading started coverage on shares of Ellington Financial in a research note on Friday, April 19th. They set a “hold” rating for the company. BTIG Research decreased their target price on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, StockNews.com raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.95.

Ellington Financial Stock Performance

The company has a debt-to-equity ratio of 10.99, a quick ratio of 46.79 and a current ratio of 46.79. The firm’s 50 day moving average is $11.97 and its 200-day moving average is $11.99. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 18.95 and a beta of 1.98.

Ellington Financial (NYSE:EFC) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). The firm had revenue of $31.06 million for the quarter, compared to analyst estimates of $26.68 million. Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. Sell-side analysts anticipate that Ellington Financial Inc. will post 1.48 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Friday, June 28th will be given a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.86%. The ex-dividend date is Friday, June 28th. Ellington Financial’s dividend payout ratio is 243.75%.

Insiders Place Their Bets

In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $12.15, for a total transaction of $100,845.00. Following the completion of the transaction, the executive now owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CIO Michael W. Vranos sold 8,300 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $12.15, for a total transaction of $100,845.00. Following the transaction, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CIO Michael W. Vranos sold 5,900 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $12.12, for a total transaction of $71,508.00. Following the transaction, the executive now owns 179,655 shares in the company, valued at approximately $2,177,418.60. The disclosure for this sale can be found here. Insiders sold a total of 22,500 shares of company stock valued at $272,866 in the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Trading of Ellington Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EFC. Global Retirement Partners LLC acquired a new position in Ellington Financial in the first quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its position in Ellington Financial by 100.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,424 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Ellington Financial by 35.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock valued at $48,000 after buying an additional 992 shares in the last quarter. Private Trust Co. NA boosted its position in Ellington Financial by 42.8% in the fourth quarter. Private Trust Co. NA now owns 4,334 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,299 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ellington Financial in the fourth quarter valued at about $102,000. Institutional investors own 55.62% of the company’s stock.

About Ellington Financial

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.