Ellington Financial LLC (EFC) Rating Increased to Hold at Zacks Investment Research
Ellington Financial LLC (NYSE:EFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Shares of Ellington Financial (NYSE:EFC) traded up 0.44% during mid-day trading on Thursday, hitting $16.15. The stock had a trading volume of 35,057 shares. Ellington Financial has a 1-year low of $15.30 and a 1-year high of $18.20. The company’s market cap is $521.55 million. The firm’s 50 day moving average price is $15.85 and its 200 day moving average price is $16.39.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $1.80 dividend on an annualized basis and a yield of 11.19%. Ellington Financial’s payout ratio is currently -382.98%.
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A number of hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its position in Ellington Financial by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 402,687 shares of the company’s stock valued at $6,713,000 after buying an additional 1,976 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Ellington Financial by 61.0% in the second quarter. Royal Bank of Canada now owns 8,333 shares of the company’s stock valued at $143,000 after buying an additional 3,157 shares in the last quarter. Optimum Investment Advisors increased its stake in shares of Ellington Financial by 64.2% in the second quarter. Optimum Investment Advisors now owns 39,730 shares of the company’s stock valued at $681,000 after buying an additional 15,535 shares in the last quarter. Crow Point Partners LLC bought a new stake in shares of Ellington Financial during the third quarter valued at approximately $278,000. Finally, Stockman Asset Management bought a new stake in shares of Ellington Financial during the third quarter valued at approximately $324,000. Hedge funds and other institutional investors own 46.88% of the company’s stock.
About Ellington Financial
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