Ellington Financial (NYSE:EFC) Rating Increased to Strong-Buy at B. Riley

Ellington Financial (NYSE:EFC) was upgraded by research analysts at B. Riley to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Ellington Financial Stock Performance

EFC opened at $12.15 on Tuesday. Ellington Financial has a 12-month low of $10.88 and a 12-month high of $13.46. The company’s 50 day moving average is $12.25 and its 200 day moving average is $12.59. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 9.27 and a beta of 1.97.

Ellington Financial (NYSE:EFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The firm had revenue of $33.63 million for the quarter, compared to the consensus estimate of $37.95 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities research analysts predict that Ellington Financial will post 1.37 EPS for the current year.

Insider Activity at Ellington Financial

In other news, CIO Michael W. Vranos sold 14,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.48, for a total value of $174,720.00. Following the completion of the transaction, the executive now directly owns 168,359 shares in the company, valued at $2,101,120.32. This trade represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. McIlrath & Eck LLC acquired a new stake in Ellington Financial during the third quarter valued at $62,000. Prospera Private Wealth LLC acquired a new position in Ellington Financial during the third quarter worth $68,000. Members Trust Co purchased a new stake in shares of Ellington Financial in the third quarter valued at about $129,000. Atom Investors LP purchased a new stake in shares of Ellington Financial during the 3rd quarter valued at approximately $130,000. Finally, PFG Investments LLC purchased a new position in shares of Ellington Financial during the 2nd quarter worth $141,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Financial

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.