Ellington Financial (EFC) Hits New 52-Week High at $16.85

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Ellington Financial LLC (NYSE:EFC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.85 and last traded at $16.84, with a volume of 70998 shares. The stock had previously closed at $16.80.

Several brokerages recently issued reports on EFC. Zacks Investment Research lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. TheStreet raised shares of Ellington Financial from a “c” rating to a “b” rating in a research note on Wednesday, October 31st. Finally, Maxim Group reaffirmed a “buy” rating and issued a $19.50 price objective on shares of Ellington Financial in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.10.

The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $504.17 million, a price-to-earnings ratio of 15.59 and a beta of 0.45.

In other news, CEO Laurence Penn purchased 28,631 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average cost of $16.15 per share, with a total value of $462,390.65. Following the completion of the transaction, the chief executive officer now directly owns 105,563 shares of the company’s stock, valued at $1,704,842.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EFC. Acadian Asset Management LLC purchased a new stake in Ellington Financial during the fourth quarter worth about $82,000. Essex Savings Bank purchased a new stake in Ellington Financial during the fourth quarter worth about $100,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Ellington Financial during the third quarter worth about $172,000. California Public Employees Retirement System purchased a new stake in Ellington Financial during the fourth quarter worth about $361,000. Finally, Stockman Wealth Management Inc. increased its holdings in Ellington Financial by 55.2% during the third quarter. Stockman Wealth Management Inc. now owns 25,300 shares of the financial services provider’s stock worth $405,000 after buying an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 46.61% of the company’s stock.

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Ellington Financial Company Profile (NYSE:EFC)

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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