Ellington Financial (NYSE:EFC) Sees Strong Trading Volume - Here's What Happened

Ellington Financial Inc. (NYSE:EFC - Get Free Report) saw strong trading volume on Friday . 183,612 shares changed hands during mid-day trading, a decline of 53% from the previous session's volume of 393,234 shares.The stock last traded at $12.26 and had previously closed at $12.16.

Ellington Financial Stock Performance

The firm has a market cap of $1.12 billion, a PE ratio of 9.42 and a beta of 1.97. 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 business has a 50 day simple moving average of $12.27 and a two-hundred day simple moving average of $12.58.

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

Ellington Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 27th. Investors of record on Tuesday, December 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.56 annualized dividend and a yield of 12.64%. Ellington Financial's dividend payout ratio (DPR) is currently 119.08%.

Insider Buying and Selling at Ellington Financial

In related news, CIO Michael W. Vranos sold 14,000 shares of the company's stock in a transaction on 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. This represents a 7.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ellington Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted its holdings in shares of Ellington Financial by 1,667.2% in 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 during the period. McIlrath & Eck LLC purchased a new position in shares of Ellington Financial during the 3rd quarter worth $62,000. Prospera Private Wealth LLC acquired a new stake in Ellington Financial in the 3rd quarter valued at approximately $68,000. Members Trust Co purchased a new stake in Ellington Financial during the third quarter worth about $129,000. Finally, Atom Investors LP acquired a new stake in shares of Ellington Financial in the third quarter valued at $130,000. 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.