Significant Increase in Short Interest for Ellington Financial Inc. (NYSE:EFC)

Ellington Financial Inc. (NYSE:EFC) experienced a notable surge in short interest during January. By January 31st, the total short interest reached 5,520,000 shares, marking a 15.2% increase compared to the 4,790,000 shares reported on January 15th. Given the average trading volume of 892,900 shares, the current days-to-cover ratio stands at 6.2 days.

Insights from Wall Street Analysts

Recent reports from several equity analysts have emerged regarding Ellington Financial stock. On January 7th, B. Riley upgraded the stock to a "strong-buy" rating. Additionally, JMP Securities reaffirmed a "market outperform" rating and established a price target of $14.00 on January 23rd. Current ratings show that two analysts have a hold rating, three have a buy rating, and one has a strong buy rating for the stock. According to MarketBeat, the average analyst rating for Ellington Financial is a "Moderate Buy," with an average price target of $13.58.

Institutional Investor Activity

Several institutional investors have adjusted their positions in Ellington Financial recently. During the fourth quarter, Larson Financial Group LLC significantly increased its holdings by 18,200.0%, owning 2,562 shares now worth $31,000 after acquiring an additional 2,548 shares. Steward Partners Investment Advisory LLC raised its stake by 162.3%, now holding 2,602 shares valued at $32,000 after purchasing an extra 1,610 shares. Furthermore, Sterling Capital Management LLC raised its stake by 814.9%, with 2,644 shares now valued at $32,000 following an additional purchase of 2,355 shares. Other investors, such as AlphaQuest LLC and McIlrath & Eck LLC, have also made new investments in Ellington Financial, with institutional ownership currently accounting for 55.62% of the stock.

Current Trading Status of Ellington Financial

As of the latest trading session on Monday, shares of EFC increased by $0.10, reaching a price of $12.98. The trading volume was 883,573 shares, slightly above the average volume of 838,743 shares. Ellington Financial has a market capitalization of $1.18 billion, a P/E ratio of 9.90, and a beta of 1.97. The stock has experienced a 52-week low of $10.88 and a high of $13.46. Its quick and current ratios are quite high at 37.04, while the debt-to-equity ratio is 10.87. The stock's 50-day moving average is $12.40, and the 200-day moving average is $12.58.

Dividend Declaration

Recently, Ellington Financial announced a monthly dividend of $0.13, scheduled to be paid on March 25th to shareholders recorded by February 28th. This dividend translates to an annualized amount of $1.56, resulting in a dividend yield of 12.02%. The ex-dividend date is set for February 28th. Currently, Ellington Financial has a dividend payout ratio of 119.08%.

Company Overview

Ellington Financial Inc., through its subsidiary Ellington Financial Operating Partnership LLC, specializes in acquiring and managing a diverse range of financial assets in the United States. This includes mortgage-related, consumer-related, and corporate-related assets. The company focuses primarily on residential mortgage-backed securities (RMBS), which are supported by various types of mortgages.

Ellington, Finance, Investors