Ellie Mae Inc Unusual Bearish Options Activity Means Higher Risks

 Ellie Mae Inc Unusual Bearish Options Activity Means Higher Risks

In today’s session Ellie Mae Inc (ELLI) recorded an unusually high (600) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious ELLI decrease. With 600 contracts traded and 674 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: ELLI161216P00095000 closed last at: $5.6 or 9.8% up. About 813,172 shares traded hands or 33.33% up from the average. Ellie Mae Inc (NYSE:ELLI) has declined 5.58% since April 13, 2016 and is downtrending. It has underperformed by 9.51% the S&P500.

Ellie Mae Inc (NYSE:ELLI) Ratings Coverage

Out of 11 analysts covering Elli Mae (NYSE:ELLI), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Elli Mae has been the topic of 24 analyst reports since July 23, 2015 according to StockzIntelligence Inc. On Friday, July 29 the stock rating was maintained by Needham with “Buy”. The stock of Ellie Mae Inc (NYSE:ELLI) earned “Overweight” rating by JP Morgan on Friday, September 9. The firm earned “Mkt Perform” rating on Friday, July 31 by FBR Capital. The rating was maintained by Barclays Capital on Friday, February 12 with “Overweight”. The rating was maintained by Oppenheimer on Thursday, October 29 with “Outperform”. The firm has “Buy” rating by Roth Capital given on Tuesday, April 26. On Friday, April 29 the stock rating was maintained by FBR Capital with “Mkt Perform”. The stock of Ellie Mae Inc (NYSE:ELLI) earned “Overweight” rating by Barclays Capital on Friday, July 31. Stephens upgraded the stock to “Overweight” rating in Wednesday, January 6 report. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, October 23.

According to Zacks Investment Research, “Ellie Mae, Inc. operates electronic mortgage origination networks in the United States. The Company’s network and technology-enabled solutions help streamline and automate the mortgage origination process. Solutions offered by Ellie include Encompass software, a comprehensive operating system that handles key business and management functions involved in running a mortgage origination business, and serves as a gateway to the Ellie Mae Network. Through its solutions the Company also offers services like: automated preparation of the disclosure and closing documents; electronic document management and websites and electronic connectivity. Ellie Mae, Inc. is headquartered in Pleasanton, California.”

Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.03, from 1.07 in 2016Q1. The ratio turned negative, as 26 funds sold all Ellie Mae Inc shares owned while 69 reduced positions. 32 funds bought stakes while 67 increased positions. They now own 31.09 million shares or 5.73% more from 29.41 million shares in 2016Q1.
Great West Life Assurance Can has 3,012 shares for 0% of their US portfolio. Rhumbline Advisers reported 33,406 shares or 0.01% of all its holdings. Baillie Gifford & reported 71,000 shares or 0.01% of all its holdings. Columbia Prtn L L C Investment Mngmt holds 77,215 shares or 0.53% of its portfolio. Geneva Advsr Limited Liability Co has 30,161 shares for 0.05% of their US portfolio. Mirador Prtn Limited Partnership owns 10,803 shares or 1% of their US portfolio. Lord Abbett And Com Ltd Liability Com has 0.23% invested in the company for 808,775 shares. Renaissance Group Inc Limited Liability Company accumulated 0.01% or 3,630 shares. Mycio Wealth Prtn Limited Liability Com has 31 shares for 0% of their US portfolio. Moreover, Bessemer Grp has 0% invested in Ellie Mae Inc (NYSE:ELLI) for 82 shares. Brown Capital Management Llc holds 1.49M shares or 2.16% of its portfolio. Envestnet Asset Management holds 0% of its portfolio in Ellie Mae Inc (NYSE:ELLI) for 10,468 shares. Tiaa Cref Invest Limited Liability last reported 0.01% of its portfolio in the stock. Scout Inc holds 0.44% of its portfolio in Ellie Mae Inc (NYSE:ELLI) for 170,635 shares. First Mercantile Tru, a Tennessee-based fund reported 14,166 shares.

Insider Transactions: Since May 16, 2016, the stock had 0 insider buys, and 25 sales for $19.80 million net activity. $352,980 worth of Ellie Mae Inc (NYSE:ELLI) was sold by Corr Jonathan. On Monday, August 1 the insider Luce Edgar sold $469,801. Another trade for 137 shares valued at $13,248 was made by BROWN BRIAN E. on Thursday, September 1. The insider Levinson Marina sold 2,412 shares worth $231,456. HU LIMIN also sold $478,165 worth of Ellie Mae Inc (NYSE:ELLI) on Monday, August 22. DOLAN A BARR also sold $235,238 worth of Ellie Mae Inc (NYSE:ELLI) on Thursday, May 19. The insider SCHREINER GATES CATHLEEN sold $62,293.

Ellie Mae, Inc. is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The company has a market cap of $2.64 billion. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency. It has a 87.23 P/E ratio. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management that provides one system of record.

ELLI Company Profile

Ellie Mae, Inc. (Ellie Mae), incorporated on October 14, 2009, is a well-known provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.

More notable recent Ellie Mae Inc (NYSE:ELLI) news were published by: Foxbusiness.com which released: “Why Ellie Mae Inc Stock Fell 8.6% Today” on November 14, 2016, also Fool.com with their article: “Small Cap Low-Risk Pick No. 3: Ellie Mae Inc.” published on April 08, 2016, Profitconfidential.com published: “Ellie Mae Inc: Housing Recovery Could Be Big Boost for ELLI Stock” on July 30, 2016. More interesting news about Ellie Mae Inc (NYSE:ELLI) were released by: Investorplace.com and their article: “Best Stocks of 2016: Ellie Mae Inc (ELLI) Stock Leads the Charge” published on October 14, 2016 as well as Businesswire.com‘s news article titled: “Ellie Mae, Inc. Announces Pricing of Follow-on Offering of Common Stock” with publication date: August 01, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment