Maxim Group Lowers Ellington Financial LLC (EFC) Price Target to $20.00
Ellington Financial LLC (NYSE:EFC) had its price objective lowered by equities research analysts at Maxim Group from $20.50 to $20.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price indicates a potential upside of 24.53% from the company’s current price.
Several other equities research analysts have also commented on the stock. Credit Suisse Group AG restated a “buy” rating and set a $20.00 target price on shares of Ellington Financial in a research report on Sunday, September 11th. Zacks Investment Research lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Ellington Financial presently has a consensus rating of “Buy” and a consensus target price of $20.75.
Shares of Ellington Financial (NYSE:EFC) opened at 16.06 on Tuesday. The company’s 50-day moving average is $17.04 and its 200 day moving average is $17.24. The firm’s market capitalization is $524.31 million. Ellington Financial has a 52-week low of $14.18 and a 52-week high of $18.74.
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Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.29. During the same quarter in the prior year, the business earned $0.39 EPS. Equities analysts expect that Ellington Financial will post $0.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $2.00 annualized dividend and a dividend yield of 12.45%.
Several large investors have recently added to or reduced their stakes in EFC. Omega Advisors Inc. raised its stake in Ellington Financial by 5.4% in the first quarter. Omega Advisors Inc. now owns 1,225,000 shares of the company’s stock valued at $21,340,000 after buying an additional 63,260 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Ellington Financial by 2.7% in the second quarter. Mutual of America Capital Management LLC now owns 400,711 shares of the company’s stock worth $6,864,000 after buying an additional 10,666 shares during the period. Global X Management Co. LLC raised its position in Ellington Financial by 47.4% in the second quarter. Global X Management Co. LLC now owns 341,459 shares of the company’s stock worth $5,849,000 after buying an additional 109,778 shares during the period. Merriman Wealth Management LLC purchased a new position in Ellington Financial during the second quarter worth about $3,475,000. Finally, Citigroup Inc. raised its position in Ellington Financial by 6,184.8% in the second quarter. Citigroup Inc. now owns 131,981 shares of the company’s stock worth $2,261,000 after buying an additional 129,881 shares during the period.
About Ellington Financial
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