BidaskClub Downgrades Ellington Financial LLC (NYSE:EFC) to Strong Sell

Ellington Financial LLC (NYSE:EFC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Monday, July 31st.

A number of other equities research analysts have also recently issued reports on EFC. Zacks Investment Research upgraded Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Tuesday, April 18th. FBR & Co restated a “buy” rating and set a $17.50 price objective on shares of Ellington Financial in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Ellington Financial currently has an average rating of “Hold” and a consensus price target of $19.13.

Ellington Financial (EFC) remained flat at $16.25 during trading on Monday. The stock had a trading volume of 54,926 shares. The stock’s 50 day moving average is $16.20 and its 200-day moving average is $16.22. Ellington Financial has a 12-month low of $15.30 and a 12-month high of $18.04. The stock has a market capitalization of $521.82 million, a PE ratio of 23.69 and a beta of 0.44.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.06. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The firm 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 earned $0.15 EPS. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities research analysts forecast that Ellington Financial will post $1.33 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Ellington Financial by 0.4% in the first quarter. Wellington Management Group LLP now owns 4,532,923 shares of the financial services provider’s stock worth $71,756,000 after buying an additional 16,795 shares during the last quarter. FMR LLC increased its stake in Ellington Financial by 24.0% in the second quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock worth $24,680,000 after buying an additional 294,734 shares during the last quarter. Omega Advisors Inc. increased its stake in Ellington Financial by 1.3% in the first quarter. Omega Advisors Inc. now owns 1,266,595 shares of the financial services provider’s stock worth $20,050,000 after buying an additional 16,595 shares during the last quarter. BBR Partners LLC increased 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 worth $14,052,000 after buying an additional 7,739 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC acquired a new stake in Ellington Financial during the first quarter worth $11,078,000. Institutional investors own 51.12% of the company’s stock.

About Ellington Financial

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