Ready Capital Corp (RC) Shares Decline Despite Market Challenges

The stock price of Ready Capital Corp (NYSE: RC) has dropped by -2.46 compared to previous close of 8.96. Despite this, the company has seen a fall of -4.59% in its stock price over the last five trading days. Seeking Alpha reported 2024-03-21 that We’re starting with our latest purchase, then moving onto some charts. Our charts help readers track the sector for both common shares and preferred shares. Mortgage REITs and BDCs are included in the charts for comparison based on various metrics such as price-to-book value, dividend yields, and earnings yield.

Is It Worth Investing in Ready Capital Corp (NYSE: RC) Right Now?

The price-to-earnings ratio for Ready Capital Corp (NYSE: RC) is above average at 3.79x, Company’s 36-month beta value is 1.43.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for RC is 170.89M, and currently, short sellers hold a 5.51% ratio of that floaft. The average trading volume of RC on April 03, 2024 was 1.45M shares.

RC’s Market Performance

RC’s stock has seen a -4.59% decrease for the week, with a -2.56% drop in the past month and a -14.73% fall in the past quarter. The volatility ratio for the week is 2.25%, and the volatility levels for the past 30 days are at 2.66% for Ready Capital Corp The simple moving average for the last 20 days is -1.36% for RC’s stock, with a simple moving average of -14.29% for the last 200 days.

Analysts’ Opinion of RC

Many brokerage firms have already submitted their reports for RC stocks, with Keefe Bruyette repeating the rating for RC by listing it as a “Underperform.” The predicted price for RC in the upcoming period, according to Keefe Bruyette is $8 based on the research report published on March 04, 2024 of the current year 2024.

UBS gave a rating of “Neutral” to RC, setting the target price at $10.50 in the report published on December 06th of the previous year.

RC Trading at -3.88% from the 50-Day Moving Average

After a stumble in the market that brought RC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.98% of loss for the given period.

Volatility was left at 2.66%, however, over the last 30 days, the volatility rate increased by 2.25%, as shares surge +4.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.18% lower at present.

During the last 5 trading sessions, RC fell by -4.59%, which changed the moving average for the period of 200-days by -21.05% in comparison to the 20-day moving average, which settled at $8.88. In addition, Ready Capital Corp saw -14.73% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at RC starting from NATHAN GILBERT E, who purchase 7,000 shares at the price of $9.12 back on Mar 22 ’24. After this action, NATHAN GILBERT E now owns 7,000 shares of Ready Capital Corp, valued at $63,832 using the latest closing price.

NATHAN GILBERT E, the Director of Ready Capital Corp, purchase 2,150 shares at $9.13 during a trade that took place back on Mar 22 ’24, which means that NATHAN GILBERT E is holding 85,249 shares at $19,629 based on the most recent closing price.

Stock Fundamentals for RC

Current profitability levels for the company are sitting at:

  • 0.65 for the present operating margin
  • 0.91 for the gross margin

The net margin for Ready Capital Corp stands at 0.55. The total capital return value is set at 0.03. Equity return is now at value 16.00, with 2.89 for asset returns.

Based on Ready Capital Corp (RC), the company’s capital structure generated 0.79 points at debt to capital in total, while cash flow to debt ratio is standing at 0.01. The debt to equity ratio resting at 3.68. The interest coverage ratio of the stock is 0.56.

Currently, EBITDA for the company is 351.25 million with net debt to EBITDA at 24.56. When we switch over and look at the enterprise to sales, we see a ratio of 17.17. The receivables turnover for the company is 4.69for trailing twelve months and the total asset turnover is 0.05.

Conclusion

In a nutshell, Ready Capital Corp (RC) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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