Jump Financial LLC Makes New $1.95 Million Investment in Ready Capital Co. (NYSE:RC)

Jump Financial LLC acquired a new position in shares of Ready Capital Co. (NYSE:RC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 286,376 shares of the real estate investment trust's stock, valued at approximately $1,953,000. Jump Financial LLC owned 0.17% of Ready Capital at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RC. Sterling Capital Management LLC boosted its stake in shares of Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 6,150 shares during the last quarter. Avion Wealth purchased a new stake in shares of Ready Capital during the fourth quarter valued at approximately $47,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Ready Capital during the fourth quarter valued at approximately $68,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Ready Capital during the fourth quarter valued at approximately $69,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RC has been the subject of a number of research analyst reports. Citizens Jmp lowered shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Wedbush restated a "neutral" rating and issued a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods cut their target price on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. B. Riley restated a "neutral" rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, UBS Group dropped their price target on shares of Ready Capital from $5.00 to $4.75 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Ready Capital presently has a consensus rating of "Hold" and an average price target of $7.04.

Ready Capital Stock Down 0.3 %

Shares of NYSE:RC traded down $0.02 during trading on Thursday, reaching $4.45. 1,079,412 shares of the company traded hands, compared to its average volume of 1,995,054. The firm has a market cap of $763.78 million, a P/E ratio of -6.34 and a beta of 1.23. The firm has a fifty day simple moving average of $5.23 and a 200 day simple moving average of $6.41. Ready Capital Co. has a 1-year low of $4.16 and a 1-year 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.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 11.25%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital's dividend payout ratio (DPR) is currently -18.94%.

Insiders Place Their Bets

In other Ready Capital news, insider Adam Zausmer acquired 10,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the transaction, the insider now owns 301,105 shares in the company, valued at $1,631,989.10. This trade represents a 3.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.09% of the company's stock.

Ready Capital 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.