Ready Capital Co. (NYSE:RC) Insider Buys $54,200.00 in Stock

Ready Capital Co. (NYSE:RC) insider Adam Zausmer acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought 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 in the company, valued at approximately $1,631,989.10. This trade represents a 3.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ready Capital Stock Performance

NYSE RC traded down $0.24 during trading on Monday, reaching $5.13. The company’s stock had a trading volume of 3,223,026 shares, compared to its average volume of 2,709,163. 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 firm has a market cap of $836.15 million, a price-to-earnings ratio of -7.32 and a beta of 1.43. Ready Capital Co. has a twelve month low of $4.74 and a twelve month high of $9.53. The business’s fifty day moving average price is $6.60 and its 200-day moving average price is $7.15.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 9.76%. Ready Capital’s dividend payout ratio is presently -18.94%.

Analyst Ratings Changes

Several brokerages have recently issued reports on RC. JMP Securities decreased their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. UBS Group decreased their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price objective on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Finally, Citizens Jmp cut Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.86.

Hedge Funds Weigh In On Ready Capital

A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Ready Capital by 3.3% during the third quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock worth $6,047,000 after acquiring an additional 25,545 shares during the period. Wolverine Asset Management LLC increased its position in Ready Capital by 2,902.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock worth $3,069,000 after purchasing an additional 388,891 shares during the period. KBC Group NV raised its stake in shares of Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,248 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Ready Capital by 2.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock valued at $1,008,000 after buying an additional 3,123 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Ready Capital in the 3rd quarter valued at approximately $160,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

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.