Short Interest in Ellington Financial Inc. (NYSE:EFC) Grows By 15.2%

Ellington Financial Inc. (NYSE:EFC) recently experienced a notable increase in short interest during January. As of January 31st, the short interest reached a total of 5,520,000 shares, marking a 15.2% rise from the previous total of 4,790,000 shares recorded on January 15th. With an average trading volume of 892,900 shares, the current days-to-cover ratio stands at 6.2 days, indicating how long it would take for the shorts to cover their positions.

Wall Street Analyst Insights

Multiple equity analysts have shared their evaluations of Ellington Financial in recent reports. For instance, on January 7th, B. Riley upgraded the stock to a "strong-buy" rating. Additionally, JMP Securities reaffirmed a "market outperform" rating, setting a price target of $14.00 for the shares on January 23rd. The overall consensus includes two analysts rating the stock as a hold, three as a buy, and one as a strong buy. According to MarketBeat data, the average rating for the stock is labeled as "Moderate Buy," with an average price target of $13.58.

Institutional Investors' Engagement with Ellington Financial

Institutional investors have been active in adjusting their holdings in Ellington Financial. Larson Financial Group LLC significantly increased its stake by 18,200.0% during the fourth quarter, bringing its total to 2,562 shares valued at approximately $31,000 after acquiring an additional 2,548 shares. Steward Partners Investment Advisory LLC also raised its holdings by 162.3%, owning 2,602 shares worth $32,000 following an increment of 1,610 shares. Furthermore, Sterling Capital Management LLC's stake rose by 814.9% in the same period. Other firms, such as AlphaQuest LLC and McIlrath & Eck LLC, also acquired new shares, and currently, institutional investors own about 55.62% of the stock.

Ellington Financial's Trading Performance

On the trading day, Ellington Financial shares increased by 0.7%, representing a $0.10 gain, closing at $12.98. The trading volume for the day was approximately 883,573 shares, slightly above the average volume of 838,743 shares. The company holds a market capitalization of around $1.18 billion, with a P/E ratio of 9.90 and a beta of 1.97. Over the past year, the stock reached a low of $10.88 and a high of $13.46. Financial indicators reveal a quick ratio and current ratio both at 37.04, while the debt-to-equity ratio is reported at 10.87.

Recent Dividend Declaration by Ellington Financial

The financial institution announced the distribution of a monthly dividend that is scheduled for payment on Tuesday, March 25th. Shareholders on record by Friday, February 28th will receive a dividend of $0.13 per share. This distribution represents an annualized dividend of $1.56, equating to a dividend yield of 12.02%. The ex-dividend date is set for February 28th, and Ellington Financial's dividend payout ratio (DPR) is currently at 119.08%.

Overview of Ellington Financial

Ellington Financial Inc., through its subsidiary Ellington Financial Operating Partnership LLC, specializes in acquiring and managing various financial assets, including mortgage-related, consumer-related, and corporate-related assets within the United States. The company's portfolio primarily consists of residential mortgage-backed securities (RMBS), which are backed by various mortgage types such as prime jumbo, Alt-A, and subprime mortgages.

Short, Interest, EFC