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

Ready Capital Co. (NYSE:RC) insider Adam Zausmer purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $5.42 per share, with a total value of $54,200.00. Following the completion of the acquisition, the insider now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ready Capital Price Performance

RC stock opened at $5.06 on Thursday. The company has a market capitalization of $825.05 million, a P/E ratio of -7.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a 52-week low of $4.74 and a 52-week high of $9.53. The business has a 50-day simple moving average of $6.53 and a two-hundred day simple moving average of $7.11.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. 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 9.89%. Ready Capital’s dividend payout ratio (DPR) is currently -18.94%.

Hedge Funds Weigh In On Ready Capital

A number of hedge funds have recently added to or reduced their stakes in RC. Sterling Capital Management LLC lifted its position 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 buying an additional 4,616 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Ready Capital by 3,075.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 6,150 shares in the last quarter. Avion Wealth bought a new position in shares of Ready Capital during the 4th quarter worth approximately $47,000. KBC Group NV lifted its position 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. Finally, Ausdal Financial Partners Inc. bought a new position in shares of Ready Capital during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Wall Street Analysts Forecast Growth

RC has been the subject of a number of recent analyst reports. B. Riley reiterated a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their target price on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. Wedbush restated a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. JMP Securities reduced their target price 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. Finally, UBS Group reduced their target price 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.86.

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.