Castlekeep Investment Advisors LLC Purchases New Holdings in Ellington Financial Inc. (NYSE:EFC)

Castlekeep Investment Advisors LLC acquired a new position in Ellington Financial Inc. (NYSE:EFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,090 shares of the financial services provider’s stock, valued at approximately $1,613,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Longboard Asset Management LP bought a new position in shares of Ellington Financial during the fourth quarter valued at approximately $179,000. CenterStar Asset Management LLC bought a new stake in shares of Ellington Financial during the 4th quarter worth approximately $136,000. State of Alaska Department of Revenue boosted its holdings in Ellington Financial by 3.9% during the 4th quarter. State of Alaska Department of Revenue now owns 51,525 shares of the financial services provider’s stock valued at $624,000 after acquiring an additional 1,918 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Ellington Financial by 1,030.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 219,372 shares of the financial services provider’s stock valued at $2,659,000 after acquiring an additional 199,972 shares during the period. Finally, Advisors Preferred LLC bought a new position in Ellington Financial in the 4th quarter valued at $432,000. 55.62% of the stock is owned by hedge funds and other institutional investors.

Ellington Financial Stock Down 0.4%

Shares of NYSE:EFC opened at $12.61 on Friday. The business’s 50 day moving average is $12.74 and its 200 day moving average is $12.65. The stock has a market cap of $1.19 billion, a P/E ratio of 9.62 and a beta of 1.01. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87.

Ellington Financial (NYSE:EFC) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. The business had revenue of $82.91 million during the quarter, compared to analysts’ expectations of $107.06 million. Sell-side analysts predict that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 12.38%. The ex-dividend date of this dividend is Friday, May 30th. Ellington Financial’s dividend payout ratio (DPR) is presently 110.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EFC. UBS Group reiterated a “neutral” rating on shares of Ellington Financial in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods raised their price target on shares of Ellington Financial from $13.75 to $14.50 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, B. Riley lifted their price objective on shares of Ellington Financial from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th.

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.