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.
COPYRIGHT VIOLATION NOTICE: “Ellington Financial (EFC) Hits New 52-Week High at $16.85” was first published by Highlight Press and is owned by of Highlight Press. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://highlightpress.com/2019/02/11/ellington-financial-efc-hits-new-52-week-high-at-16-85.html.
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.
Read More: Capital Gains
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.