Ready Capital Corp (NYSE: RC) is -15.41% lower on its value in year-to-date trading and has touched a low of $8.30 and a high of $11.97 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RC stock was last observed hovering at around $8.91 in the last trading session, with the day’s loss setting it -0.24%.
Currently trading at $8.67, the stock is -2.12% and -7.04% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.48 million and changing -2.69% at the moment leaves the stock -15.73% off its SMA200. RC registered -14.85% loss for a year compared to 6-month loss of -19.42%. The firm has a 50-day simple moving average (SMA 50) of $7.54 and a 200-day simple moving average (SMA200) of $15.96.
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The stock witnessed a -2.25% gain in the last 1 month and extending the period to 3 months gives it a -19.72%, and is -0.46% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.40% over the week and 2.64% over the month.
Current P/E ratio is 3.76 and Fwd P/E is 6.43. Profit margin for the company is 27.08%. Distance from 52-week low is 4.46% and -27.57% from its 52-week high. The company has generated returns on investments over the last 12 months (2.95%).
Ready Capital Corp quarterly earnings per share for the current quarter are estimated at $0.28 with sales reaching $76.37M over the same period.The EPS is expected to grow by 4.56% this year, but quarterly earnings will post 28.10% year-over-year. Quarterly sales are estimated to shrink -0.40% in year-over-year returns.
333 institutions hold shares in Ready Capital Corp (RC), with institutional investors hold 58.89% of the company’s shares. The shares outstanding are 172.28M, and float is at 170.91M with Short Float at 5.50%. Institutions hold 58.27% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 27.25 million shares valued at $307.37 million. The investor’s holdings represent 15.85% of the RC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 10.54 million shares valued at $118.91 million to account for 6.13% of the shares outstanding. The other top investors are State Street Corporation which holds 5.8 million shares representing 3.37% and valued at over $65.4 million, while Geode Capital Management, LLC holds 1.82% of the shares totaling 3.13 million with a market value of $35.31 million.
Ready Capital Corp (RC) Insider Activity
The most recent transaction is an insider purchase by LUEBBERS KEVIN M, the company’s Director. SEC filings show that LUEBBERS KEVIN M bought 5,000 shares of the company’s common stock on Mar 05 ’24 at a price of $8.43 per share for a total of $42148.0. Following the purchase, the insider now owns 0.12 million shares.
Ready Capital Corp disclosed in a document filed with the SEC on Aug 15 ’23 that Capasse Thomas E (CEO and CIO) sold a total of 26,623 shares of the company’s common stock. The trade occurred on Aug 15 ’23 and was made at $10.70 per share for $0.28 million. Following the transaction, the insider now directly holds 0.0 shares of the RC stock.
