Wedge Capital Management L L P NC Takes Position in Ellington Financial LLC (EFC)

Wedge Capital Management L L P NC purchased a new stake in shares of Ellington Financial LLC (NYSE:EFC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 73,003 shares of the financial services provider’s stock, valued at approximately $1,169,000.

Other institutional investors have also recently made changes to their positions in the company. Merriman Wealth Management LLC bought a new position in Ellington Financial during the second quarter valued at approximately $179,000. Renaissance Technologies LLC bought a new position in Ellington Financial during the second quarter valued at approximately $693,000. GSA Capital Partners LLP boosted its stake in Ellington Financial by 170.7% during the second quarter. GSA Capital Partners LLP now owns 65,935 shares of the financial services provider’s stock valued at $1,029,000 after buying an additional 41,582 shares during the last quarter. Finally, FMR LLC boosted its stake in Ellington Financial by 4.2% during the second quarter. FMR LLC now owns 1,779,384 shares of the financial services provider’s stock valued at $27,776,000 after buying an additional 71,500 shares during the last quarter. 46.31% of the stock is owned by institutional investors.

A number of brokerages recently commented on EFC. TheStreet raised Ellington Financial from a “c” rating to a “b” rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered Ellington Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Sandler O’Neill set a $19.00 price target on Ellington Financial and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 price target on shares of Ellington Financial in a research note on Wednesday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.10.

NYSE:EFC opened at $16.09 on Friday. The company has a market capitalization of $465.24 million, a PE ratio of 14.90 and a beta of 0.40. Ellington Financial LLC has a 1 year low of $14.12 and a 1 year high of $16.84. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.66 and a quick ratio of 1.66.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Monday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.25. The business had revenue of $33.04 million during the quarter, compared to analyst estimates of $29.09 million. Ellington Financial had a return on equity of 5.85% and a net margin of 51.11%. Research analysts expect that Ellington Financial LLC will post 1.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.19%. The ex-dividend date is Thursday, November 29th. Ellington Financial’s payout ratio is 151.85%.

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Ellington Financial Profile

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

Further Reading: Cost of Capital

Want to see what other hedge funds are holding EFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Financial LLC (NYSE:EFC).

Institutional Ownership by Quarter for Ellington Financial (NYSE:EFC)

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