Ellington Financial LLC (EFC) CEO Laurence Penn Purchases 28,631 Shares

Ellington Financial LLC (NYSE:EFC) CEO Laurence Penn bought 28,631 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average price of $16.15 per share, with a total value of $462,390.65. Following the transaction, the chief executive officer now directly owns 105,563 shares in the company, valued at $1,704,842.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Laurence Penn also recently made the following trade(s):

  • On Monday, November 12th, Laurence Penn bought 30,000 shares of Ellington Financial stock. The shares were bought at an average price of $16.20 per share, with a total value of $486,000.00.

Shares of EFC opened at $15.89 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 3.12. Ellington Financial LLC has a 52-week low of $14.12 and a 52-week high of $16.84. The firm has a market capitalization of $476.92 million, a price-to-earnings ratio of 12.22 and a beta of 0.40.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.64 annualized dividend and a yield of 10.32%. Ellington Financial’s payout ratio is 151.85%.

A number of institutional investors and hedge funds have recently modified their holdings of EFC. Cambridge Investment Research Advisors Inc. bought a new position in Ellington Financial in the 3rd quarter valued at $172,000. Merriman Wealth Management LLC bought a new position in Ellington Financial in the 2nd quarter valued at $179,000. Stockman Wealth Management Inc. raised its position in Ellington Financial by 55.2% in the 3rd quarter. Stockman Wealth Management Inc. now owns 25,300 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 9,000 shares during the last quarter. Renaissance Technologies LLC bought a new position in Ellington Financial in the 2nd quarter valued at $693,000. Finally, GSA Capital Partners LLP raised its position in Ellington Financial by 170.7% in the 2nd quarter. GSA Capital Partners LLP now owns 65,935 shares of the financial services provider’s stock valued at $1,029,000 after purchasing an additional 41,582 shares during the last quarter. Hedge funds and other institutional investors own 46.57% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research downgraded Ellington Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. TheStreet upgraded Ellington Financial from a “c” rating to a “b” rating in a research report on Wednesday, October 31st. Sandler O’Neill set a $19.00 target price on Ellington Financial and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $18.00 target price on shares of Ellington Financial in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.10.

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Ellington Financial Company 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.

Read More: Book Value Per Share – BVPS

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