BNP Paribas Financial Markets Sells 77,559 Shares of Ready Capital Co. (NYSE:RC)

BNP Paribas Financial Markets trimmed its holdings in Ready Capital Co. (NYSE:RC - Free Report) by 79.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,278 shares of the real estate investment trust's stock after selling 77,559 shares during the period. BNP Paribas Financial Markets' holdings in Ready Capital were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RC. Charles Schwab Investment Management Inc. boosted its position in shares of Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust's stock valued at $15,458,000 after buying an additional 398,005 shares during the last quarter. Barclays PLC lifted its stake in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock valued at $3,699,000 after acquiring an additional 326,467 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Ready Capital by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock worth $77,522,000 after acquiring an additional 768,891 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in shares of Ready Capital in the 4th quarter worth $2,480,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Ready Capital in the 4th quarter worth $1,839,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ready Capital

In other Ready Capital news, insider Adam Zausmer acquired 10,000 shares of Ready Capital stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $54,200.00. Following the purchase, the insider now owns 301,105 shares of the company's stock, valued at approximately $1,631,989.10. This represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Ready Capital Stock Performance

RC traded down $0.07 during midday trading on Wednesday, reaching $4.20. The company had a trading volume of 1,160,841 shares, compared to its average volume of 2,137,326. Ready Capital Co. has a 12-month low of $3.93 and a 12-month high of $9.54. The business has a 50-day moving average price of $4.46 and a two-hundred day moving average price of $5.85. The stock has a market cap of $716.13 million, a PE ratio of -6.00 and a beta of 1.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.21). The firm had revenue of $40.24 million for the quarter, compared to analysts' expectations of $212.33 million. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. On average, sell-side analysts expect that Ready Capital Co. will post 0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

RC has been the topic of a number of recent analyst reports. Wedbush reissued a "neutral" rating and set a $6.00 price target (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods cut their target price on Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group reduced their target price on Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Finally, Citizens Jmp downgraded Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Ready Capital has an average rating of "Hold" and a consensus price target of $6.96.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.