Ready Capital Co. (NYSE:RC) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its holdings in Ready Capital Co. (NYSE:RC - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,955 shares of the real estate investment trust's stock after selling 114,551 shares during the quarter. Parallel Advisors LLC owned 0.08% of Ready Capital worth $692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Ready Capital by 1,618.4% in the first quarter. GAMMA Investing LLC now owns 21,068 shares of the real estate investment trust's stock valued at $107,000 after acquiring an additional 19,842 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Ready Capital by 110.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,893 shares of the real estate investment trust's stock valued at $162,000 after acquiring an additional 12,000 shares in the last quarter. AlphaCore Capital LLC raised its holdings in Ready Capital by 25.4% in the fourth quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust's stock valued at $163,000 after acquiring an additional 4,660 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ready Capital by 19.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust's stock valued at $2,950,000 after acquiring an additional 70,314 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Ready Capital by 11.7% in the fourth quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust's stock valued at $293,000 after acquiring an additional 4,486 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company's stock.

Analysts Set New Price Targets

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

Ready Capital Stock Performance

NYSE:RC traded down $0.07 during midday trading on Wednesday, reaching $4.20. The stock had a trading volume of 1,160,841 shares, compared to its average volume of 2,132,827. The firm has a fifty day simple moving average of $4.47 and a two-hundred day simple moving average of $5.86. Ready Capital Co. has a 12-month low of $3.93 and a 12-month high of $9.54. 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 cap of $716.13 million, a P/E ratio of -6.00 and a beta of 1.45.

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

Insider Transactions at Ready Capital

In other news, insider Adam Zausmer purchased 10,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $5.42 per share, with a total value of $54,200.00. Following the purchase, the insider now directly owns 301,105 shares of the company's stock, valued at $1,631,989.10. This represents a 3.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company's stock.

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.