Short Interest in Ellington Financial Inc. (NYSE:EFC) Expands By 23.1%

Ellington Financial Inc. (NYSE:EFC) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 5,110,000 shares, an increase of 23.1% from the August 15th total of 4,150,000 shares. Based on an average trading volume of 953,100 shares, the days-to-cover ratio is currently 5.4 days.

Analysts Set New Price Targets

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

Ellington Financial Stock Up 0.2 %

EFC opened at $13.33 on Tuesday. Ellington Financial has a fifty-two week low of $10.88 and a fifty-two week high of $13.47. The firm has a market capitalization of $1.13 billion, a P/E ratio of 20.83 and a beta of 1.98. The company’s 50-day moving average is $12.93 and its 200 day moving average is $12.15. The company has a debt-to-equity ratio of 10.84, a current ratio of 73.16 and a quick ratio of 73.16.

Ellington Financial (NYSE:EFC) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $33.60 million for the quarter, compared to the consensus estimate of $37.20 million. Ellington Financial had a return on equity of 9.76% and a net margin of 103.55%. During the same period in the prior year, the business earned $0.38 EPS. Research analysts expect that Ellington Financial will post 1.37 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.70%. The ex-dividend date is Monday, September 30th. Ellington Financial’s dividend payout ratio (DPR) is currently 243.75%.

Insider Buying and Selling

In other news, CIO Michael W. Vranos sold 5,900 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total transaction of $71,508.00. Following the transaction, the executive now owns 179,655 shares of the company’s stock, valued at approximately $2,177,418.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Trading of Ellington Financial

A number of large investors have recently added to or reduced their stakes in EFC. Global Retirement Partners LLC purchased a new position in shares of Ellington Financial during the 1st quarter valued at $27,000. CWM LLC increased its stake in shares of Ellington Financial by 150.2% in the second quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,562 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Ellington Financial by 1,667.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266,746 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in 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 during the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Ellington Financial in the 2nd quarter valued at about $141,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

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.