Sandler O’Neill analyst Crispin Love reiterated a Buy rating on Ellington Financial (NYSE: EFC) yesterday and set a price target of $18.50. The company’s shares closed yesterday at $16.40, close to its 52-week high of $16.50.
Love has an average return of 13.4% when recommending Ellington Financial.
According to TipRanks.com, Love is ranked #2897 out of 4850 analysts.
Currently, the analyst consensus on Ellington Financial is a Moderate Buy with an average price target of $18.50, implying a 12.8% upside from current levels. In a report issued on August 7, Maxim Group also reiterated a Buy rating on the stock with a $19.50 price target.
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Based on Ellington Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $21.19 million. In comparison, last year the company had a net profit of $5.06 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EFC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ellington Financial LLC engages in the provision of investment services. It manages mortgage-backed assets, securities, loans and real estate debts. The company was founded on July 9, 2007 and is headquartered in Old Greenwich, CT.
