Harbor Capital Advisors Inc. Has $9.37 Million Stock Position in Ellington Financial Inc. (NYSE:EFC)

Harbor Capital Advisors Inc. lifted its position in Ellington Financial Inc. (NYSE:EFC - Free Report) by 146.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 726,779 shares of the financial services provider's stock after buying an additional 431,945 shares during the period. Harbor Capital Advisors Inc. owned about 0.85% of Ellington Financial worth $9,368,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its stake in Ellington Financial by 150.2% in the second quarter. CWM LLC now owns 2,602 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 1,562 shares during the period. Strategic Financial Concepts LLC grew its position 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 purchasing an additional 266,746 shares during the period. PNC Financial Services Group Inc. increased its stake in Ellington Financial by 35.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider's stock worth $48,000 after purchasing an additional 992 shares in the last quarter. Members Trust Co acquired a new stake in Ellington Financial during the 3rd quarter worth approximately $129,000. Finally, PFG Investments LLC bought a new position in Ellington Financial in the second quarter valued at approximately $141,000. Institutional investors and hedge funds own 55.62% of the company's stock.

Insider Buying and Selling

In related news, CIO Michael W. Vranos sold 14,000 shares of the firm's stock in a transaction on 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 transaction, the executive now directly owns 168,359 shares of the company's stock, valued at approximately $2,101,120.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, JMP Securities lowered their price objective on shares of Ellington Financial from $14.50 to $14.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.56.

Ellington Financial Stock Down 1.2 %

NYSE EFC traded down $0.14 during trading on Friday, hitting $11.95. The stock had a trading volume of 1,078,300 shares, compared to its average volume of 730,243. The company has a market capitalization of $1.04 billion, a PE ratio of 9.80 and a beta of 1.99. Ellington Financial Inc. has a 12 month low of $10.88 and a 12 month high of $13.46. The company's 50-day moving average price is $12.83 and its two-hundred day moving average price is $12.46. The company has a debt-to-equity ratio of 10.84, a quick ratio of 73.16 and a current ratio of 73.16.

Ellington Financial (NYSE:EFC - Get Free Report) last announced 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). Ellington Financial had a return on equity of 9.76% and a net margin of 103.55%. The business had revenue of $33.60 million for the quarter, compared to analyst estimates of $37.20 million. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, sell-side analysts forecast that Ellington Financial Inc. will post 1.37 EPS for the current year.

Ellington Financial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, October 31st will be given a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.05%. The ex-dividend date is Thursday, October 31st. Ellington Financial's dividend payout ratio is currently 127.87%.

Ellington Financial 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.