14,685 Shares in Ellington Credit (NYSE:EARN) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new stake in Ellington Credit (NYSE:EARN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,685 shares of the real estate investment trust’s stock, valued at approximately $97,000.

Several other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. purchased a new stake in shares of Ellington Credit during the fourth quarter worth $197,000. 683 Capital Management LLC bought a new stake in shares of Ellington Credit during the 4th quarter valued at $718,000. Jane Street Group LLC lifted its holdings in Ellington Credit by 177.5% during the 4th quarter. Jane Street Group LLC now owns 73,714 shares of the real estate investment trust’s stock worth $488,000 after purchasing an additional 47,151 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Ellington Credit in the 4th quarter worth about $369,000. Finally, Lido Advisors LLC bought a new position in Ellington Credit in the 4th quarter worth about $269,000. 20.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ellington Credit

In other Ellington Credit news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of Ellington Credit stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of $4.73 per share, for a total transaction of $37,840.00. Following the completion of the transaction, the portfolio manager now directly owns 18,000 shares of the company’s stock, valued at approximately $85,140. The trade was a 80.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EARN. Piper Sandler decreased their price target on Ellington Credit from $8.00 to $6.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group decreased their target price on shares of Ellington Credit from $6.50 to $5.25 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com lowered shares of Ellington Credit from a “hold” rating to a “sell” rating in a research report on Friday.

Ellington Credit Stock Up 1.0%

NYSE:EARN opened at $5.70 on Monday. The stock has a market cap of $213.90 million, a P/E ratio of 5.08 and a beta of 1.31. The business’s 50-day moving average price is $5.41 and its two-hundred day moving average price is $6.17. Ellington Credit has a twelve month low of $4.33 and a twelve month high of $7.26.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings data on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. On average, equities research analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 16.86%. The ex-dividend date of this dividend is Friday, May 30th. Ellington Credit’s dividend payout ratio (DPR) is currently 320.00%.

Ellington Credit Company Profile

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.