BNP Paribas Financial Markets cut its holdings in Ready Capital Co. (NYSE:RC - Free Report) by 79.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,278 shares of the real estate investment trust's stock after selling 77,559 shares during the quarter. BNP Paribas Financial Markets' holdings in Ready Capital were worth $138,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sterling Capital Management LLC increased its stake in Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Ready Capital by 3,075.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock worth $43,000 after buying an additional 6,150 shares in the last quarter. Avion Wealth acquired a new stake in shares of Ready Capital during the fourth quarter worth approximately $47,000. Ausdal Financial Partners Inc. acquired a new stake in Ready Capital in the fourth quarter worth $68,000. Finally, Proficio Capital Partners LLC bought a new position in Ready Capital in the 4th quarter worth about $69,000. 55.87% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Ready Capital
In other Ready Capital news, insider Adam Zausmer purchased 10,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $5.42 per share, for a total transaction of $54,200.00. Following the acquisition, the insider now owns 301,105 shares in the company, valued at approximately $1,631,989.10. The trade was a 3.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.
Ready Capital Stock Down 1.1%
Shares of NYSE RC traded down $0.05 during trading hours on Wednesday, hitting $4.23. The company had a trading volume of 218,850 shares, compared to its average volume of 2,129,451. Ready Capital Co. has a 1-year low of $3.93 and a 1-year high of $9.54. The firm's 50 day moving average is $4.47 and its 200-day moving average is $5.86. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $720.39 million, a P/E ratio of -6.04 and a beta of 1.45.
Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.21). The business had revenue of $40.24 million during the quarter, compared to the consensus estimate 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, analysts expect that Ready Capital Co. will post 0.93 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have commented on RC. Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. UBS Group reduced their target price on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price target on Ready Capital from $4.00 to $3.75 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. Finally, Wedbush reissued a "neutral" rating and set a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $6.96.
View Our Latest Analysis on RC
Ready Capital Profile
(
Free Report)
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.
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