Edge Wealth Management LLC Grows Stake in Ellington Financial LLC (EFC)
Edge Wealth Management LLC increased its position in shares of Ellington Financial LLC (NYSE:EFC) by 640.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,500 shares of the financial services provider’s stock after purchasing an additional 16,000 shares during the period. Edge Wealth Management LLC’s holdings in Ellington Financial were worth $267,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EFC. FMR LLC increased its position in shares of Ellington Financial by 24.0% during the second quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after purchasing an additional 294,734 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ellington Financial during the second quarter valued at approximately $1,245,000. HighTower Advisors LLC bought a new stake in shares of Ellington Financial during the second quarter valued at approximately $1,003,000. Virtu KCG Holdings LLC increased its position in shares of Ellington Financial by 254.7% during the second quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 31,768 shares during the period. Finally, Global X MANAGEMENT CO LLC increased its position in shares of Ellington Financial by 5.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 526,255 shares of the financial services provider’s stock valued at $8,310,000 after purchasing an additional 28,233 shares during the period. Institutional investors and hedge funds own 45.70% of the company’s stock.
A number of research firms have recently issued reports on EFC. Deutsche Bank lowered their price objective on Ellington Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. ValuEngine upgraded Ellington Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded Ellington Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Sandler O’Neill began coverage on Ellington Financial in a research report on Wednesday, December 6th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, B. Riley cut Ellington Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.50 to $16.00 in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $17.25.
Shares of Ellington Financial LLC (NYSE EFC) opened at $15.10 on Thursday. Ellington Financial LLC has a 1 year low of $14.45 and a 1 year high of $17.00. The firm has a market capitalization of $478.59, a price-to-earnings ratio of 17.36 and a beta of 0.41. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.90 and a quick ratio of 3.90.
Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Ellington Financial had a net margin of 31.55% and a return on equity of 5.79%. equities research analysts anticipate that Ellington Financial LLC will post 1.07 EPS for the current fiscal year.
Ellington Financial Company Profile
Ellington Financial LLC is a specialty finance company that acquires and manages mortgage-related and other financial assets. The Company’s targeted assets include residential mortgage-backed securities (RMBS), backed by loans for which the principal and interest payments are not guaranteed by a United States Government agency or a United States Government-sponsored entity, collectively referred to as non-Agency RMBS; RMBS for which the principal and interest payments are guaranteed by the United States government agency or the United States government-sponsored entity (Agency RMBS); consumer loans and asset-backed securities (ABS) backed by consumer loans; commercial mortgage-backed securities (CMBS) commercial mortgage loans and other commercial real estate debt; residential mortgage loans; collateralized loan obligations (CLOs); corporate debt and equity, including distressed debt and equity, and mortgage-related derivatives.
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