Short Interest in Ellington Financial Inc. (NYSE:EFC) Increases by 15.2%

Ellington Financial Inc. (NYSE:EFC) experienced a notable rise in short interest in January. By the end of January, the short interest accumulated to 5,520,000 shares, marking a 15.2% increase from the 4,790,000 shares reported on January 15. Considering the average daily trading volume of 892,900 shares, the current days-to-cover ratio stands at 6.2 days.

Wall Street Analyst Opinions

Recently, various equity analysts shared their thoughts on Ellington Financial. In a report dated January 7, B. Riley upgraded the stock to a "strong-buy" rating. Additionally, on January 23, JMP Securities reasserted a "market outperform" rating and established a price target of $14.00 for the shares. As per MarketBeat's data, two analysts have given the stock a hold rating, three have labeled it as a buy, and one has assigned a strong buy rating. The overall consensus among analysts is a "Moderate Buy" rating, with an average price target of $13.58.

Institutional Investor Activities

Several institutional investors have recently altered their stakes in Ellington Financial. During the fourth quarter, Larson Financial Group LLC significantly increased its holdings by 18,200.0%, totaling 2,562 shares valued at about $31,000 after acquiring an additional 2,548 shares. Similarly, Steward Partners Investment Advisory LLC raised its stake by 162.3%, owning 2,602 shares worth approximately $32,000 after purchasing 1,610 additional shares. Sterling Capital Management LLC also elevated its assets in Ellington by 814.9%, owning 2,644 shares worth around $32,000 after adding 2,355 shares. AlphaQuest LLC initiated a new position valued at about $37,000 in the fourth quarter, while McIlrath & Eck LLC acquired a new stake valued at about $62,000 in the third quarter. Notably, institutional investors currently hold 55.62% of the stock.

Recent Trading Performance

On Monday, Ellington Financial shares climbed by 0.7%, ending the trading session at $12.98. The stock traded a volume of 883,573 shares, surpassing the average volume of 838,743. Presently, the company holds a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.90, and a beta of 1.97. Over the past year, Ellington Financial's shares have reached a low of $10.88 and a high of $13.46. The firm reports a quick and current ratio of 37.04 and a debt-to-equity ratio of 10.87. The stock's 50-day moving average is $12.40, while the 200-day moving average is $12.58.

Dividend Declaration

Recently, Ellington Financial announced a monthly dividend to be disbursed on March 25. Shareholders who are on record by February 28 will receive a $0.13 dividend, equating to an annualized dividend of $1.56 and a yield of 12.02%. The ex-dividend date for this payout is set for February 28. Currently, the company's dividend payout ratio (DPR) stands at 119.08%.

Company Overview

Ellington Financial Inc., through its subsidiary Ellington Financial Operating Partnership LLC, primarily focuses on acquiring and managing financial assets in the United States. This encompasses mortgage-related, consumer-related, and corporate-related assets, including residential mortgage-backed securities (RMBS) backed by various mortgage types such as prime jumbo, Alt-A, manufactured housing, and subprime loans, along with U.S. government-backed RMBS for principal and interest payments.

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