Ellington Credit (NYSE:EARN) Portfolio Manager Purchases $15,870.00 in Stock

Ellington Credit Company (NYSE:EARN) Portfolio Manager Gregory Morris Borenstein bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was purchased at an average price of $5.29 per share, for a total transaction of $15,870.00. Following the transaction, the portfolio manager owned 25,000 shares of the company’s stock, valued at approximately $132,250. This represents a 13.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gregory Morris Borenstein also recently made the following trade(s):

• On Friday, September 5th, Gregory Morris Borenstein purchased 4,000 shares of Ellington Credit stock. The shares were purchased at an average price of $5.62 per share, with a total value of $22,480.00.

Ellington Credit Stock Performance

NYSE EARN opened at $5.45 on Friday. Ellington Credit Company has a one year low of $4.32 and a one year high of $7.11. The business has a fifty day moving average price of $5.69 and a 200 day moving average price of $5.61. The company has a market cap of $204.51 million, a P/E ratio of 30.25 and a beta of 1.33.

Ellington Credit (NYSE:EARN) last released its earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. As a group, sell-side analysts predict that Ellington Credit Company will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The firm also recently announced a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.08 dividend. This represents a yield of 1,757.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Ellington Credit’s dividend payout ratio (DPR) is 533.33%.

Institutional Trading of Ellington Credit

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC boosted its stake in Ellington Credit by 62.5% during the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,000 shares during the period. Quarry LP purchased a new position in shares of Ellington Credit during the 1st quarter worth approximately $33,000. Quantbot Technologies LP increased its holdings in Ellington Credit by 211.0% in the 1st quarter. Quantbot Technologies LP now owns 14,016 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 9,509 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Ellington Credit in the 2nd quarter valued at approximately $83,000. Finally, Inspire Advisors LLC lifted its stake in Ellington Credit by 16.3% during the first quarter. Inspire Advisors LLC now owns 17,203 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 2,407 shares in the last quarter. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group upped their price target on Ellington Credit from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Ellington Credit from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Ellington Credit presently has a consensus rating of “Moderate Buy” and an average price target of $6.13.

Ellington Credit Company Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.