Short Interest in Ellington Financial Inc. (NYSE:EFC) Increases By 23.1%

Ellington Financial Inc. (NYSE:EFC) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 5,110,000 shares, an increase of 23.1% from the August 15th total of 4,150,000 shares. Based on an average trading volume of 953,100 shares, the days-to-cover ratio is presently 5.4 days.

Insider Buying and Selling

In other Ellington Financial news, CIO Michael W. Vranos sold 5,900 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the sale, the executive now owns 179,655 shares in the company, valued at $2,177,418.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $12.15, for a total value of $100,845.00. Following the sale, the executive now owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CIO Michael W. Vranos sold 5,900 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total transaction of $71,508.00. Following the transaction, the executive now directly owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new position in shares of Ellington Financial during the first quarter valued at approximately $27,000. CWM LLC increased its holdings in shares of Ellington Financial by 150.2% during the second quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,562 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of Ellington Financial by 1,667.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 266,746 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Ellington Financial by 35.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in Ellington Financial during the 2nd quarter valued at about $141,000. 55.62% of the stock is currently owned by institutional investors.

Ellington Financial Price Performance

Shares of NYSE EFC opened at $13.30 on Friday. Ellington Financial has a 1 year low of $10.88 and a 1 year high of $13.50. The stock has a market capitalization of $1.16 billion, a P/E ratio of 20.78 and a beta of 1.98. The company’s 50-day moving average is $12.93 and its 200 day moving average is $12.14. The company has a debt-to-equity ratio of 10.84, a current ratio of 73.16 and a quick ratio of 73.16.

Ellington Financial (NYSE:EFC) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $37.20 million. Ellington Financial had a return on equity of 9.76% and a net margin of 103.55%. During the same quarter last year, the company posted $0.38 EPS. On average, sell-side analysts expect that Ellington Financial will post 1.37 earnings per share for the current year.

Ellington Financial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.73%. The ex-dividend date of this dividend is Monday, September 30th. Ellington Financial’s dividend payout ratio is presently 243.75%.

Analysts Set New Price Targets

Separately, JMP Securities lowered their price target on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.85.

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.