Geode Capital Management LLC has recently announced that it has increased stake in Ready Capital Corp (NYSE:RC) by 5.18%. After grabbing 3.29 million shares, the institutional investor is now in possession of 0.16 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 1.91% having worth around $33.65 million. Moreover, Fuh Hwa Securities Investment Tru increased its share by 18536.0 to have a control over 2.67 million shares. And Northern Trust Investments, Inc. raised its holdings to 7610.0 shares by acquiring 1.98 million shares or 1.15% of the stake.
Ready Capital Corp (RC) concluded trading on 12/28/23 at a closing price of $10.53, with 3.62 million shares of worth about $38.15 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.65% during that period and on Thursday the price saw a loss of about -4.19%. Currently the company’s common shares owned by public are about 172.12M shares, out of which, 170.61M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the RC stock and their offered price forecasts bring an average price target of $11.36. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $10.00. The stock’s current price level is 7.31% above of average price target set by the analysts, while a rise to estimated low would result in loss of -5.3% for the stock. However, touching the estimated high of $13.00 would mean a gain of 19.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 26 times over the past 12 months. They bought 211,054 shares in 18 of the transactions. In 8 selling transactions, insiders dumped 72,923 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Ready Capital Corp iShares Core S&P Small Cap ETF is currently holding 10.58 million shares of worth totaling $108.1 million. The company recently came buying 5472.0 shares which brought its stake up to 6.15% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 11454.0 shares, after which its hold over company’s outstanding shares expand to 2.85%, leaving 4.91 million shares with the mutual fund that have a worth of about $50.16 million. iShares Russell 2000 ETF, after buying 3.97 million shares, have now control over 2.31% of the stake in the company. It holds 1950.0 shares of worth $40.55 million.
Ready Capital Corp (NYSE: RC) started trading at $10.70, below -$0.29 from concluding price of the previous day. However, the stock later moved at a day high price of 10.71, or with a loss of -4.19%. Stock saw a price change of -1.77% in past 5 days and over the past one month there was a price change of 5.19%. Year-to-date (YTD), RC shares are showing a performance of -4.28% which decreased to -9.18% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.19 but also hit the highest price of $13.32 during that period. The average intraday trading volume for Ready Capital Corp shares is 1.12 million. The stock is currently trading -1.80% below its 20-day simple moving average (SMA20), while that difference is up 3.45% for SMA50 and it goes to 0.50% higher than SMA200.
Geode Capital Management LLC acquired 3.29 million shares of Ready Capital Corp having value of about $33.65 million. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 0.16 million shares in the company valued at close to $1706997.24, or have control over 5.18% stake in the company. Ready Capital Corp (NYSE: RC) currently have 172.12M outstanding shares and institutions hold larger chunk of about 59.27% of that. Holding of mutual funds in the company is about 31.01% while other institutional holders and individual stake holders have control over 7.52% and 28.36% of the stake respectively.
The stock has a current market capitalization of $1.81B and its 3Y-monthly beta is at 1.48. PE ratio of stock for trailing 12 months is 4.54, while it has posted earnings per share of $2.32 in the same period. Its PEG reads 0.32 while making debt-to-equity ratio of 3.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RC, volatility over the week remained 1.70% while standing at 2.39% over the month.
Analysts are in expectations that Ready Capital Corp (RC) stock would likely to be making an EPS of $0.29 in the current quarter, while forecast for next quarter EPS is $0.3 and it is $1.28 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.22 which is $0.36 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.42 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -33.85% while it is estimated to increase by 3.62% in next year. EPS is likely to grow at an annualized rate of 14.21% for next 5-years, compared to annual growth of 1.80% made by the stock over the past 5-years.
Analysts at 8 brokerage firms have issued recommendations for the Ready Capital Corp (RC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.25. Out of those 8 Wall Street analysts, 3 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
