Zacks Investment Research lowered shares of Ellington Financial LLC (NYSE:EFC) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “

A number of other equities research analysts have also recently commented on EFC. BidaskClub cut shares of Ellington Financial from a sell rating to a strong sell rating in a research note on Monday, July 31st. FBR & Co reissued a buy rating and issued a $17.50 price objective on shares of Ellington Financial in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $19.13.

Shares of Ellington Financial (EFC) remained flat at $16.25 during mid-day trading on Wednesday. 54,926 shares of the stock traded hands. The firm has a 50-day moving average of $16.20 and a 200 day moving average of $16.22. Ellington Financial has a 52 week low of $15.30 and a 52 week high of $18.04. The firm has a market capitalization of $521.82 million, a price-to-earnings ratio of 23.69 and a beta of 0.44.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. The company had revenue of $22.66 million for the quarter, compared to analyst estimates of $21.82 million. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. Equities research analysts anticipate that Ellington Financial will post $1.33 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 11.08%. Ellington Financial’s payout ratio is 257.15%.

A number of large investors have recently modified their holdings of the stock. Nine Chapters Capital Management LLC acquired a new stake in shares of Ellington Financial during the second quarter worth approximately $172,000. Hancock Holding Co. acquired a new stake in shares of Ellington Financial during the first quarter worth approximately $188,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ellington Financial during the second quarter worth approximately $216,000. Russell Investments Group Ltd. acquired a new stake in shares of Ellington Financial during the second quarter worth approximately $219,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Ellington Financial during the second quarter worth approximately $277,000. 51.12% of the stock is currently owned by hedge funds and other institutional investors.

Ellington Financial Company Profile

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