Ellington Credit (NYSE:EARN) Portfolio Manager Purchases $15,870.00 in Stock

Ellington Credit Company (NYSE:EARN) Portfolio Manager Gregory Morris Borenstein purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was bought at an average price of $5.29 per share, for a total transaction of $15,870.00. Following the purchase, the portfolio manager owned 25,000 shares in the company, valued at approximately $132,250. This represents a 13.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gregory Morris Borenstein also recently made the following trade(s):

• On Friday, September 5th, Gregory Morris Borenstein acquired 4,000 shares of Ellington Credit stock. The shares were purchased at an average price of $5.62 per share, with a total value of $22,480.00.

Ellington Credit Trading Up 1.6%

Shares of EARN stock opened at $5.45 on Friday. The stock’s 50-day moving average price is $5.69 and its 200-day moving average price is $5.61. Ellington Credit Company has a 12-month low of $4.32 and a 12-month high of $7.11. The stock has a market capitalization of $204.51 million, a price-to-earnings ratio of 30.25 and a beta of 1.33.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%.The firm had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $12.15 million. As a group, research analysts predict that Ellington Credit Company will post 1.17 EPS for the current fiscal year.

Ellington Credit Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 1,757.0%. Ellington Credit’s dividend payout ratio (DPR) is presently 533.33%.

Wall Street Analysts Forecast Growth

EARN has been the topic of several analyst reports. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. UBS Group boosted their price objective on shares of Ellington Credit from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.13.

Institutional Trading of Ellington Credit

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC boosted its stake in shares of Ellington Credit by 62.5% during the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,000 shares during the period. Quarry LP bought a new stake in Ellington Credit during the 1st quarter valued at about $33,000. Quantbot Technologies LP boosted its position in Ellington Credit by 211.0% in the 1st quarter. Quantbot Technologies LP now owns 14,016 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 9,509 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Ellington Credit during the second quarter worth approximately $83,000. Finally, Inspire Advisors LLC boosted its holdings in shares of Ellington Credit by 16.3% in the first quarter. Inspire Advisors LLC now owns 17,203 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 2,407 shares during the period. 20.40% of the stock is currently owned by institutional investors.

Ellington Credit Company Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.