Global X Management Co. LLC increased its position in Ellington Financial LLC (NYSE:EFC) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 498,022 shares of the financial services provider’s stock after buying an additional 26,023 shares during the period. Global X Management Co. LLC’s holdings in Ellington Financial were worth $8,073,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of EFC. Ranger Global Real Estate Advisors LLC bought a new position in Ellington Financial during the first quarter worth about $11,078,000. Acadian Asset Management LLC boosted its position in Ellington Financial by 319.4% in the second quarter. Acadian Asset Management LLC now owns 78,507 shares of the financial services provider’s stock worth $1,272,000 after buying an additional 59,788 shares in the last quarter. Renaissance Technologies LLC boosted its position in Ellington Financial by 23.3% in the fourth quarter. Renaissance Technologies LLC now owns 177,962 shares of the financial services provider’s stock worth $2,762,000 after buying an additional 33,613 shares in the last quarter. Tahithromos L.L.C. boosted its position in Ellington Financial by 37.0% in the first quarter. Tahithromos L.L.C. now owns 121,245 shares of the financial services provider’s stock worth $1,919,000 after buying an additional 32,752 shares in the last quarter. Finally, Morgan Stanley boosted its position in Ellington Financial by 9.6% in the first quarter. Morgan Stanley now owns 329,948 shares of the financial services provider’s stock worth $5,224,000 after buying an additional 29,027 shares in the last quarter. 51.12% of the stock is owned by institutional investors and hedge funds.
Ellington Financial LLC (NYSE:EFC) opened at 16.25 on Friday. The firm has a 50 day moving average of $16.20 and a 200-day moving average of $16.22. The stock has a market cap of $521.82 million, a PE ratio of 23.69 and a beta of 0.44. Ellington Financial LLC has a 12-month low of $15.30 and a 12-month high of $18.04.
Ellington Financial (NYSE:EFC) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.06. Ellington Financial had a net margin of 26.67% and a return on equity of 5.48%. The company had revenue of $22.66 million during the quarter, compared to analyst estimates of $21.82 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts expect that Ellington Financial LLC will post $1.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 11.08%. The ex-dividend date of this dividend is Wednesday, August 30th. Ellington Financial’s payout ratio is 257.15%.
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EFC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Tuesday, April 18th. FBR & Co reaffirmed a “buy” rating and issued a $17.50 price target on shares of Ellington Financial in a report on Monday, May 8th. Finally, BidaskClub cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.13.
Ellington Financial Company Profile
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