Ellington Financial (NYSE:EFC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Other research analysts also recently issued reports about the company. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (down from $17.50) on shares of Ellington Financial in a report on Wednesday, November 1st. Maxim Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Ellington Financial in a report on Monday, October 9th. Deutsche Bank lowered their price target on Ellington Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Sandler O’Neill initiated coverage on Ellington Financial in a report on Wednesday, December 6th. They set a “buy” rating and a $17.00 price target on the stock. Finally, ValuEngine raised Ellington Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.25.

Shares of Ellington Financial (EFC) traded up $0.10 during trading hours on Tuesday, hitting $14.65. The stock had a trading volume of 100,508 shares, compared to its average volume of 104,417. The company has a market capitalization of $466.14, a P/E ratio of 16.65 and a beta of 0.41. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90. Ellington Financial has a 1 year low of $14.45 and a 1 year high of $17.00.

A number of hedge funds have recently bought and sold shares of EFC. Cambridge Investment Research Advisors Inc. bought a new position in Ellington Financial in the second quarter valued at about $216,000. Russell Investments Group Ltd. bought a new position in Ellington Financial in the second quarter valued at about $219,000. Citadel Advisors LLC bought a new position in Ellington Financial in the second quarter valued at about $277,000. Goldman Sachs Group Inc. bought a new position in Ellington Financial in the second quarter valued at about $405,000. Finally, Virtu KCG Holdings LLC lifted its holdings in Ellington Financial by 254.7% in the second quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock valued at $717,000 after acquiring an additional 31,768 shares during the period. 45.70% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/ellington-financial-efc-stock-rating-upgraded-by-zacks-investment-research/1800406.html.

Ellington Financial Company Profile

Get a free copy of the Zacks research report on Ellington Financial (EFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ellington Financial (NYSE:EFC)

Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.