Ellington Financial (NYSE:EFC) Given “Market Outperform” Rating at JMP Securities

Ellington Financial (NYSE:EFC)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $14.50 target price on the financial services provider’s stock. JMP Securities’ price target suggests a potential upside of 28.43% from the company’s current price.

Several other equities research analysts have also weighed in on EFC. StockNews.com lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods reduced their target price on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, BTIG Research lowered their price target on Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.95.

Ellington Financial Trading Up 1.5 %

Shares of NYSE:EFC traded up $0.17 during midday trading on Thursday, hitting $11.29. The company had a trading volume of 222,915 shares, compared to its average volume of 1,114,358. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21. The firm has a fifty day simple moving average of $11.55 and a 200 day simple moving average of $12.27. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30. The stock has a market cap of $960.33 million, a price-to-earnings ratio of 12.53 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The company had revenue of $27.99 million during the quarter, compared to the consensus estimate of $30.77 million. During the same period last year, the company earned $0.42 earnings per share. On average, analysts predict that Ellington Financial will post 1.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EFC. PNC Financial Services Group Inc. raised its position in Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after buying an additional 759 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Ellington Financial in the second quarter valued at approximately $33,000. Tower Research Capital LLC TRC increased its stake in Ellington Financial by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,086 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Ellington Financial in the 1st quarter valued at $62,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Ellington Financial during the 3rd quarter worth about $45,000. 55.62% of the stock is owned by institutional investors and hedge funds.

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.