- The shares of mortgage software provider Ellie Mae have sold off strongly on rising bond yields.
- While the shares are still anything but cheap (especially on a GAAP basis), we think the sell-off is a little overdone.
- It remains to be seen how far bond yields will rise, to what extent that will slow the housing market, and how that will impact Ellie’s earnings.
- If history is any guide, the latter will not suffer all that much.
Sell-Off In Ellie Mae Provides An Opportunity
December 22nd, 2016 · No Comments