Ellington Financial (EFC) Receives a Buy from Maxim Group

In a report released yesterday, Michael Diana from Maxim Group reiterated a Buy rating on Ellington Financial (EFCResearch Report), with a price target of $17.50. The company’s shares closed last Friday at $15.63.

According to TipRanks.com, Diana is a 5-star analyst with an average return of 11.5% and a 46.1% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Generation Income Properties, and Westamerica Bancorporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ellington Financial with a $16.65 average price target.

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Based on Ellington Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.35 million and GAAP net loss of $6.08 million. In comparison, last year the company earned revenue of $45.69 million and had a net profit of $39.8 million.

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Ellington Financial, Inc. 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.

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