Longboard Asset Management LP Buys New Position in Ellington Financial Inc. (NYSE:EFC)

Longboard Asset Management LP bought a new stake in Ellington Financial Inc. (NYSE:EFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,799 shares of the financial services provider’s stock, valued at approximately $179,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC purchased a new position in shares of Ellington Financial during the third quarter worth approximately $62,000. Prospera Private Wealth LLC purchased a new position in shares of Ellington Financial during the third quarter worth approximately $68,000. Members Trust Co purchased a new position in shares of Ellington Financial during the third quarter worth approximately $129,000. Atom Investors LP purchased a new position in shares of Ellington Financial during the third quarter worth approximately $130,000. Finally, Creative Planning purchased a new position in shares of Ellington Financial during the third quarter worth approximately $141,000. 55.62% of the stock is owned by hedge funds and other institutional investors.

Ellington Financial Stock Up 0.8 %

Shares of Ellington Financial stock opened at $12.62 on Wednesday. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. Ellington Financial Inc. has a 52-week low of $10.88 and a 52-week high of $13.46. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.63 and a beta of 1.97. The company’s 50 day moving average price is $12.33 and its 200-day moving average price is $12.59.

Ellington Financial (NYSE:EFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (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 analysts’ expectations of $37.95 million. During the same quarter last year, the business earned $0.33 earnings per share. Equities research analysts forecast that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be issued a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.37%. The ex-dividend date of this dividend is Friday, January 31st. Ellington Financial’s dividend payout ratio is 119.08%.

Analyst Ratings Changes

Several research firms have commented on EFC. JMP Securities reissued a “market outperform” rating and set a $14.00 price target on shares of Ellington Financial in a research note on Thursday, January 23rd. B. Riley raised shares of Ellington Financial to a “strong-buy” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.58.

Ellington Financial 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.