Ellington Credit (NYSE:EARN) Raised to Hold at Wall Street Zen

by · The Cerbat Gem

Ellington Credit (NYSE:EARN – Get Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, UBS Group decreased their price objective on Ellington Credit from $5.75 to $5.25 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.88.

Check Out Our Latest Stock Report on Ellington Credit

Ellington Credit Price Performance

Shares of Ellington Credit stock opened at $5.37 on Friday. Ellington Credit has a 52-week low of $4.32 and a 52-week high of $6.99. The firm has a market capitalization of $201.51 million, a PE ratio of 29.81 and a beta of 1.33. The company’s fifty day moving average price is $5.52 and its two-hundred day moving average price is $5.60.

Ellington Credit (NYSE:EARN – Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $9.87 million for the quarter, compared to the consensus estimate of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. Analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EARN. Bogart Wealth LLC grew its position in Ellington Credit by 62.5% during the 2nd quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,000 shares during the last quarter. Quarry LP acquired a new position in Ellington Credit in the first quarter worth $33,000. Quantbot Technologies LP grew its holdings in shares of Ellington Credit by 211.0% during the first quarter. Quantbot Technologies LP now owns 14,016 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 9,509 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Ellington Credit during the second quarter worth $83,000. Finally, Inspire Advisors LLC increased its stake in shares of Ellington Credit by 16.3% in the first quarter. Inspire Advisors LLC now owns 17,203 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 2,407 shares in the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Company Profile

(Get Free Report)

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.

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