B. Riley Upgrades Ellington Financial (NYSE:EFC) to “Strong-Buy”

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

Ellington Financial Trading Down 0.7 %

EFC opened at $12.15 on Tuesday. The company has a market cap of $1.10 billion, a P/E ratio of 9.27 and a beta of 1.97. 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 has a one year low of $10.88 and a one year high of $13.46. The business’s 50-day simple moving average is $12.25 and its 200-day simple moving average is $12.59.

Ellington Financial (NYSE:EFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $33.63 million during the quarter, compared to analysts’ expectations of $37.95 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts expect that Ellington Financial will post 1.37 EPS for the current fiscal year.

Insider Activity

In related news, CIO Michael W. Vranos sold 14,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $12.48, for a total value of $174,720.00. Following the completion of the sale, the executive now 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 Securities & Exchange Commission, which is available at this link. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

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

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.