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

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. “

EFC has been the subject of several other reports. BidaskClub downgraded Ellington Financial from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. FBR & Co reiterated a “buy” rating and set a $17.50 target price on shares of Ellington Financial in a research note on Monday, May 8th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Ellington Financial presently has a consensus rating of “Hold” and an average price target of $19.13.

Ellington Financial (NYSE EFC) traded up 0.43% during midday trading on Wednesday, reaching $16.32. The company had a trading volume of 64,655 shares. The company has a market cap of $524.07 million, a PE ratio of 23.96 and a beta of 0.44. Ellington Financial has a 52-week low of $15.30 and a 52-week high of $18.04. The company’s 50-day moving average is $16.24 and its 200 day moving average is $16.21.

Ellington Financial (NYSE:EFC) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.06. Ellington Financial had a return on equity of 5.44% and a net margin of 26.67%. The business had revenue of $22.66 million for the quarter, compared to the consensus estimate of $21.82 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Ellington Financial will post $1.39 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in EFC. BB&T Securities LLC boosted its stake in Ellington Financial by 0.9% in the first quarter. BB&T Securities LLC now owns 38,942 shares of the financial services provider’s stock valued at $616,000 after buying an additional 339 shares during the last quarter. Edge Wealth Management LLC boosted its stake in Ellington Financial by 1.6% in the second quarter. Edge Wealth Management LLC now owns 32,500 shares of the financial services provider’s stock valued at $530,000 after buying an additional 500 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Ellington Financial by 16.9% in the first quarter. Wells Fargo & Company MN now owns 21,534 shares of the financial services provider’s stock valued at $341,000 after buying an additional 3,109 shares during the last quarter. Merriman Wealth Management LLC boosted its stake in Ellington Financial by 1.2% in the first quarter. Merriman Wealth Management LLC now owns 442,450 shares of the financial services provider’s stock valued at $7,004,000 after buying an additional 5,200 shares during the last quarter. Finally, BBR Partners LLC boosted its stake in Ellington Financial by 0.9% in the first quarter. BBR Partners LLC now owns 887,707 shares of the financial services provider’s stock valued at $14,052,000 after buying an additional 7,739 shares during the last quarter. 51.12% of the stock is owned by institutional investors and hedge funds.

Ellington Financial Company Profile

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