Rep. Virginia Foxx Buys Ellington Financial Inc. (NYSE:EFC) Shares

Representative Virginia Foxx (R-North Carolina) recently bought shares of Ellington Financial Inc. (NYSE:EFC). In a filing disclosed on October 21st, the Representative disclosed that they had bought between $1,001 and $15,000 in Ellington Financial stock on September 30th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Hercules Capital (NYSE:HTGC) on 8/20/2024.
• Purchased $1,001 – $15,000 in shares of Energy Transfer (NYSE:ET) on 8/19/2024.
• Purchased $1,001 – $15,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 8/14/2024.

Ellington Financial Stock Down 0.1 %

Shares of NYSE:EFC opened at $12.60 on Thursday. The company’s fifty day moving average is $12.94 and its 200-day moving average is $12.40. The company has a debt-to-equity ratio of 10.84, a quick ratio of 73.16 and a current ratio of 73.16. Ellington Financial Inc. has a 52 week low of $10.88 and a 52 week high of $13.46. The company has a market capitalization of $1.07 billion, a PE ratio of 19.69 and a beta of 1.98.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $33.60 million during the quarter, compared to analyst estimates of $37.20 million. Ellington Financial had a net margin of 103.55% and a return on equity of 9.76%. During the same quarter last year, the firm earned $0.38 earnings per share. Equities research analysts predict that Ellington Financial Inc. will post 1.37 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.38%. Ellington Financial’s payout ratio is presently 243.75%.

Analysts Set New Price Targets

Separately, JMP Securities decreased their price target on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.56.

Hedge Funds Weigh In On Ellington Financial

Large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Ellington Financial in the first quarter valued at approximately $163,000. Norden Group LLC increased its stake in shares of Ellington Financial by 763.2% in the 1st quarter. Norden Group LLC now owns 107,506 shares of the financial services provider’s stock valued at $1,270,000 after buying an additional 95,051 shares during the period. Vanguard Group Inc. raised its position in shares of Ellington Financial by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,879,336 shares of the financial services provider’s stock worth $57,625,000 after acquiring an additional 45,979 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Ellington Financial during the second quarter valued at $2,968,000. Finally, ProShare Advisors LLC lifted its stake in shares of Ellington Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,246 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 1,057 shares during the period. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now directly owns 168,359 shares of the company’s stock, valued at approximately $2,101,120.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.