Short Interest in Ellington Financial Inc. Grows By 15.2%

Ellington Financial Inc. (NYSE:EFC) has seen a notable increase in its short interest for the month of January. As of January 31st, the short interest amounted to 5,520,000 shares, representing a rise of 15.2% compared to the 4,790,000 shares recorded on January 15th. With an average daily trading volume of 892,900 shares, the current days-to-cover ratio stands at 6.2 days.

Wall Street Analyst Opinions

Recent reports from several equity analysts highlight varying perspectives on Ellington Financial's stock. B. Riley upgraded the stock to a "strong-buy" rating in a report dated January 7th. Another firm, JMP Securities, maintained a "market outperform" rating and set a price target of $14.00 in their research report on January 23rd. Overall, two analysts have assigned a hold rating to the stock, three have given it a buy rating, and one has issued a strong buy rating. MarketBeat data shows that the average rating for Ellington Financial is currently classified as "Moderate Buy," with an average price target of $13.58.

Institutional Investors and Their Stakes

Institutional investors have also been active in adjusting their positions in Ellington Financial. Larson Financial Group LLC made a substantial increase, boosting their holdings by 18,200.0% during the fourth quarter, now owning 2,562 shares valued at approximately $31,000 after acquiring an additional 2,548 shares. Steward Partners Investment Advisory LLC raised its stake by 162.3%, now holding 2,602 shares worth $32,000 after adding 1,610 shares to its position. Similarly, Sterling Capital Management LLC increased its holdings by 814.9%, currently owning 2,644 shares valued at around $32,000 following the acquisition of 2,355 shares. Additionally, AlphaQuest LLC invested in a new position within the quarter worth about $37,000, while McIlrath & Eck LLC took a new stake in the third quarter valued at approximately $62,000. Currently, 55.62% of the stock is owned by institutional investors.

Share Price and Market Activity

On Monday, shares of Ellington Financial traded up by 0.7%, closing at $12.98. The trading volume reached 883,573 shares, surpassing its average volume of 838,743. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.90, and a beta of 1.97. Over the last 52 weeks, the stock has fluctuated between a low of $10.88 and a high of $13.46. Additionally, Ellington Financial's quick ratio and current ratio are both reported at 37.04, with a debt-to-equity ratio of 10.87. The firm’s moving averages are currently at $12.40 for 50 days and $12.58 for 200 days.

Upcoming Dividend Declaration

Recently, Ellington Financial announced a monthly dividend, which is set to be distributed on March 25th. Shareholders with a record date on February 28th will receive a dividend of $0.13, amounting to an annualized dividend of $1.56, resulting in a dividend yield of 12.02%. The ex-dividend date for this payment is also February 28th. The company's dividend payout ratio (DPR) is currently 119.08%.

Overview of Ellington Financial

Ellington Financial Inc., through its subsidiary, Ellington Financial Operating Partnership LLC, specializes in acquiring and managing various financial assets, including mortgage-related, consumer-related, and corporate-related assets within the United States. The company focuses on acquiring and managing residential mortgage-backed securities (RMBS), which include prime jumbo, Alt-A, manufactured housing, and subprime mortgages that have principal and interest payments guaranteed by the U.S. government.

EFC, Market, Investment