Ellington Financial (NYSE:EFC) Upgraded at B. Riley

Ellington Financial (NYSE:EFC - Get Free Report) was upgraded by equities research analysts at B. Riley to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Ellington Financial Trading Down 0.3 %

Shares of Ellington Financial stock traded down $0.04 during trading on Tuesday, hitting $12.10. The stock had a trading volume of 949,325 shares, compared to its average volume of 892,319. Ellington Financial has a 1 year low of $10.88 and a 1 year high of $13.46. The stock has a 50 day simple moving average of $12.25 and a 200 day simple moving average of $12.59. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The company has a market capitalization of $1.10 billion, a PE ratio of 9.24 and a beta of 1.97.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $33.63 million for the quarter, compared to analysts' expectations of $37.95 million. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. During the same period in the previous year, the company posted $0.33 EPS. On average, research analysts expect that Ellington Financial will post 1.37 EPS for the current fiscal year.

Insider Transactions at Ellington Financial

In other news, CIO Michael W. Vranos sold 14,000 shares of Ellington Financial stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now directly owns 168,359 shares in the company, valued at $2,101,120.32. The trade was a 7.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Ellington Financial

A number of institutional investors have recently modified their holdings of EFC. McIlrath & Eck LLC acquired a new position in Ellington Financial during the 3rd quarter valued at $62,000. Prospera Private Wealth LLC acquired a new stake in Ellington Financial during the third quarter worth about $68,000. Members Trust Co bought a new position in Ellington Financial during the third quarter valued at about $129,000. Atom Investors LP bought a new position in Ellington Financial during the third quarter valued at about $130,000. Finally, PFG Investments LLC acquired a new position in Ellington Financial in the 2nd quarter valued at approximately $141,000. Institutional investors own 55.62% of the company's stock.

Ellington Financial Company 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.