The Vanguard Group, Inc. recently announced the acquisition of new stake in Ready Capital Corporation (NYSE:RC). The institutional investor has increased its shareholding in the Real Estate company by 3.16% to 6.48 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 5.85% valued currently at $69.55 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.16 million to 3.49 million shares. And Invesco Capital Management LLC has lifted its position by 24.87% or 0.42 million shares – to 2.09 million shares.
With over 1.66 million Ready Capital Corporation (RC) shares trading Tuesday and a closing price of $10.86 on the day, the dollar volume was approximately $18.08 million. The shares have shown a negative half year performance of -16.91% and its price on 05/23/23 gained nearly 0.28%. Currently, there are 110.67M common shares owned by the public and among those 109.33M shares have been available to trade.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 162,636 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 1,788,428 shares.
The top 3 mutual fund holders in Ready Capital Corporation are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 7.14 million shares of the company’s stock, all valued at over $76.6 million. The company sold 11067.0 shares recently to bring their total holdings to about 6.45% of the shares outstanding. Vanguard Total Stock Market ETF sold 3609.0 shares to see its total holdings shrink to 3.07 million shares valued at over $32.93 million and representing 2.77% of the shares outstanding. iShares Russell 2000 ETF sold 22160.0 shares to bring its total holdings to over 1.52 million shares at a value of $16.27 million. iShares Russell 2000 ETF now owns shares totaling to 1.37% of the shares outstanding.
Shares of Ready Capital Corporation (NYSE: RC) opened at $10.80, down -$0.03 from a prior closing price of $10.83. However, the script later moved the day high at 11.20, up 0.28%. The company’s stock has a 5-day price change of 5.54% and -14.69% over the past three months. RC shares are trading -2.51% year to date (YTD), with the 12-month market performance down to -21.12% lower. It has a 12-month low price of $9.36 and touched a high of $14.11 over the same period. RC has an average intraday trading volume of 1.59 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.48%, 6.55%, and -7.58% respectively.
Institutional ownership of Ready Capital Corporation (NYSE: RC) shares accounts for 64.80% of the company’s 110.67M shares outstanding. Mutual fund holders own 29.14%, while other institutional holders and individual stakeholders account for 33.68% and 11.83% respectively.
It has a market capitalization of $1.21B and a beta (3y monthly) value of 1.41. The stock’s trailing 12-month PE ratio is 8.12, while the earnings-per-share (ttm) stands at $1.34. The company has a PEG of 0.57 and the debt-to-equity ratio at 5.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.96% over the week and 2.89% over the month.
Analysts forecast that Ready Capital Corporation (RC) will achieve an EPS of $0.38 for the current quarter, $0.4 for the next quarter and $1.61 for 2024. The lowest estimate earnings-per-share for the quarter is $0.34 while analysts give the company a high EPS estimate of $0.45. Comparatively, EPS for the current quarter was $0.46 a year ago. Earnings per share for the fiscal year are expected to decrease by -19.50%, and 6.70% over the next financial year. EPS should grow at an annualized rate of 14.21% over the next five years, compared to 4.10% over the past 5-year period.
Leave a Reply