Ready Capital (NYSE:RC) Downgraded to Neutral at LADENBURG THALM/SH SH

Ready Capital (NYSE:RC - Get Free Report) was downgraded by investment analysts at LADENBURG THALM/SH SH from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

RC has been the topic of a number of other reports. UBS Group cut their price target on shares of Ready Capital from $10.50 to $9.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 20th. StockNews.com downgraded Ready Capital from a "buy" rating to a "hold" rating in a research note on Monday, March 4th. BTIG Research cut their price objective on Ready Capital from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 17th. B. Riley reissued a "buy" rating and set a $12.00 target price (down from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 price objective (down previously from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.93.

Ready Capital Trading Down 3.3 %

NYSE:RC traded down $0.29 on Friday, hitting $8.37. 2,433,672 shares of the stock were exchanged, compared to its average volume of 1,457,248. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 3.58 and a beta of 1.41. The company's 50-day moving average price is $8.73 and its 200 day moving average price is $9.48. Ready Capital has a 52 week low of $8.25 and a 52 week high of $11.97.

Ready Capital (NYSE:RC - Get Free Report) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Ready Capital had a net margin of 35.69% and a return on equity of 7.99%. The firm had revenue of $232.35 million during the quarter, compared to analyst estimates of $64.34 million. During the same quarter in the previous year, the business earned $0.31 EPS. On average, equities research analysts forecast that Ready Capital will post 1.22 earnings per share for the current year.

Insider Activity

In other news, Director Gilbert E. Nathan bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the purchase, the director now owns 83,099 shares of the company's stock, valued at approximately $718,806.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kevin M. Luebbers purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the purchase, the director now owns 119,925 shares in the company, valued at $1,010,967.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert E. Nathan acquired 10,000 shares of Ready Capital stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the acquisition, the director now owns 83,099 shares of the company's stock, valued at $718,806.35. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 17,150 shares of company stock valued at $148,280. 0.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new stake in shares of Ready Capital in the fourth quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in shares of Ready Capital during the 4th quarter worth $36,000. MCF Advisors LLC bought a new position in shares of Ready Capital in the first quarter worth $42,000. Allspring Global Investments Holdings LLC raised its stake in Ready Capital by 112.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust's stock valued at $77,000 after purchasing an additional 4,039 shares in the last quarter. Finally, Naviter Wealth LLC bought a new stake in Ready Capital during the first quarter worth about $94,000. 55.87% of the stock is owned by institutional investors and hedge funds.

About Ready Capital

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.