Ellington Financial Inc. (NYSE:EFC) Short Interest Down 28.2% in September

Ellington Financial Inc. (NYSE:EFC) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 3,670,000 shares, a drop of 28.2% from the August 31st total of 5,110,000 shares. Based on an average daily volume of 980,400 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analyst Weigh In

Separately, JMP Securities lowered their price target on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ellington Financial presently has an average rating of “Moderate Buy” and an average target price of $13.85.

Ellington Financial Trading Up 0.3 %

Shares of NYSE:EFC traded up $0.04 during trading on Friday, reaching $13.02. 1,015,648 shares of the company traded hands, compared to its average volume of 993,705. The business’s fifty day moving average is $12.99 and its 200-day moving average is $12.27. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $13.46. The company has a current ratio of 73.16, a quick ratio of 73.16 and a debt-to-equity ratio of 10.84. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 20.34 and a beta of 1.98.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $33.60 million during the quarter, compared to analysts’ expectations of $37.20 million. Ellington Financial had a net margin of 103.55% and a return on equity of 9.76%. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, analysts forecast that Ellington Financial will post 1.37 EPS for the current year.

Ellington Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a $0.13 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.56 annualized dividend and a yield of 11.99%. Ellington Financial’s dividend payout ratio (DPR) is presently 243.75%.

Insiders Place Their Bets

In other news, CIO Michael W. Vranos sold 5,900 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the sale, the executive now owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Ellington Financial

A number of large investors have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Ellington Financial by 150.2% during the second quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,562 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Ellington Financial by 1,667.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock worth $34,000 after buying an additional 266,746 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Ellington Financial by 35.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 992 shares in the last quarter. PFG Investments LLC purchased a new position in Ellington Financial during the 2nd quarter valued at about $141,000. Finally, Virtu Financial LLC purchased a new position in Ellington Financial during the 1st quarter valued at about $163,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.