Hudson Bay Capital Management LP Makes New $4.39 Million Investment in Ready Capital Co. (NYSE:RC)

Hudson Bay Capital Management LP purchased a new stake in Ready Capital Co. (NYSE:RC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 644,139 shares of the real estate investment trust's stock, valued at approximately $4,393,000. Hudson Bay Capital Management LP owned 0.38% of Ready Capital as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RC. Graham Capital Management L.P. increased its position in Ready Capital by 271.0% in the 4th quarter. Graham Capital Management L.P. now owns 119,816 shares of the real estate investment trust's stock valued at $817,000 after buying an additional 87,523 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Ready Capital by 50.7% during the fourth quarter. Deutsche Bank AG now owns 134,542 shares of the real estate investment trust's stock valued at $918,000 after acquiring an additional 45,243 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Ready Capital during the fourth quarter valued at approximately $957,000. Freestone Grove Partners LP acquired a new position in shares of Ready Capital during the fourth quarter worth approximately $128,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Ready Capital by 88.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 372,281 shares of the real estate investment trust's stock worth $2,539,000 after purchasing an additional 174,416 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Thomas E. Capasse bought 10,000 shares of Ready Capital stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $4.80 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 319,925 shares of the company's stock, valued at approximately $1,535,640. The trade was a 3.23% 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 1.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citizens Jmp lowered shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Wedbush reaffirmed a "neutral" rating and issued a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Finally, UBS Group cut their price target on Ready Capital from $5.00 to $4.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Ready Capital has an average rating of "Hold" and a consensus price target of $7.04.

Ready Capital Stock Up 3.0%

Ready Capital stock opened at $4.26 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market cap of $733.08 million, a PE ratio of -6.08 and a beta of 1.45. Ready Capital Co. has a fifty-two week low of $3.93 and a fifty-two week high of $9.54. The firm's 50-day simple moving average is $4.71 and its 200 day simple moving average is $6.15.

Ready Capital (NYSE:RC - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share 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 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%. Research analysts predict that Ready Capital Co. will post 0.93 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 11.75%. Ready Capital's dividend payout ratio (DPR) is presently -28.74%.

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.

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