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

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 Performance

Shares of EFC traded down $0.07 during trading hours on Wednesday, reaching $12.54. 218,311 shares of the company’s stock traded hands, compared to its average volume of 970,630. Ellington Financial Inc. has a twelve month low of $10.88 and a twelve month high of $13.46. The business’s fifty day simple moving average is $12.95 and its two-hundred day simple moving average is $12.40. The company has a debt-to-equity ratio of 10.84, a current ratio of 73.16 and a quick ratio of 73.16. The firm has a market capitalization of $1.07 billion, a price-to-earnings 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). Ellington Financial had a return on equity of 9.76% and a net margin of 103.55%. The company had revenue of $33.60 million for the quarter, compared to the consensus estimate of $37.20 million. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts predict that Ellington Financial Inc. will post 1.37 earnings per share for the current year.

Ellington Financial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 25th. Stockholders of record on Thursday, October 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.56 annualized dividend and a dividend yield of 12.44%. Ellington Financial’s payout ratio is 243.75%.

Insider Activity

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of Ellington Financial stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $12.48, for a total transaction of $174,720.00. Following the transaction, the executive now directly owns 168,359 shares in the company, valued at approximately $2,101,120.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ellington Financial

A number of institutional investors and hedge funds have recently modified their holdings of EFC. CWM LLC raised its position in shares of Ellington Financial by 150.2% during the second quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,562 shares during the period. Strategic Financial Concepts LLC raised its holdings in Ellington Financial by 1,667.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock worth $34,000 after buying an additional 266,746 shares during the period. PNC Financial Services Group Inc. lifted its stake in Ellington Financial by 35.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock valued at $48,000 after buying an additional 992 shares in the last quarter. Members Trust Co acquired a new position in shares of Ellington Financial in the third quarter worth about $129,000. Finally, PFG Investments LLC purchased a new position in shares of Ellington Financial in the second quarter worth approximately $141,000. Institutional investors and hedge funds own 55.62% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities lowered 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.56.

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.

About Ellington Financial

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.