Ellington Credit (NYSE:EARN) Rating Lowered to “Sell” at Wall Street Zen

by · The Markets Daily

Ellington Credit (NYSE:EARN – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

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

View Our Latest Research Report on Ellington Credit

Ellington Credit Stock Up 0.1%

NYSE EARN opened at $5.14 on Friday. The firm has a market cap of $192.87 million, a price-to-earnings ratio of 28.53 and a beta of 1.33. The business has a 50-day moving average price of $5.56 and a 200-day moving average price of $5.57. Ellington Credit has a twelve month low of $4.32 and a twelve month high of $7.11.

Ellington Credit (NYSE:EARN – Get Free Report) last posted its earnings results 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 firm had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. Research analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ellington Credit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its position in Ellington Credit by 485.8% during the first quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock valued at $5,044,000 after purchasing an additional 773,169 shares during the period. Delphi Financial Group Inc. raised its position in Ellington Credit by 230.8% during the second quarter. Delphi Financial Group Inc. now owns 608,700 shares of the real estate investment trust’s stock valued at $3,500,000 after purchasing an additional 424,700 shares during the period. Jane Street Group LLC raised its position in Ellington Credit by 415.4% during the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock valued at $2,055,000 after purchasing an additional 306,192 shares during the period. Clear Harbor Asset Management LLC raised its position in Ellington Credit by 21.6% during the second quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust’s stock valued at $2,015,000 after purchasing an additional 62,200 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in Ellington Credit by 103.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 186,300 shares of the real estate investment trust’s stock valued at $1,008,000 after purchasing an additional 94,900 shares during the period. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

About Ellington Credit

(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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