The stock of Ready Capital Corp (RC) has gone down by -1.38% for the week, with a -0.56% drop in the past month and a -5.07% drop in the past quarter. The volatility ratio for the week is 2.44%, and the volatility levels for the past 30 days are 1.88% for RC. The simple moving average for the past 20 days is 0.17% for RC’s stock, with a -10.62% simple moving average for the past 200 days.
Is It Worth Investing in Ready Capital Corp (NYSE: RC) Right Now?
The price-to-earnings ratio for Ready Capital Corp (NYSE: RC) is 5.26x, which is above its average ratio. Moreover, the 36-month beta value for RC is 1.46. Analysts have varying 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 166.48M and currently, short sellers hold a 7.42% of that float. On July 03, 2024, RC’s average trading volume was 1.39M shares.
RC) stock’s latest price update
The stock of Ready Capital Corp (NYSE: RC) has increased by 1.24 when compared to last closing price of 8.28. Despite this, the company has experienced a -1.38% fall in its stock price over the last five trading sessions. prnewswire.com reported 2024-06-24 that FORT LAUDERDALE, Fla., June 24, 2024 /PRNewswire/ — iBusiness Funding LLC (iBusiness), the technology and lending services division of Ready Capital Corporation (NYSE: RC), and Funding Circle Holdings plc are pleased to announce a share purchase agreement, positioning iBusiness Funding, LLC as the new owner of FC USA and its subsidiaries, contingent on the return of its Small Business Lending Company (SBLC) license to the SBA.
Analysts’ Opinion of RC
Keefe Bruyette, on the other hand, stated in their research note that they expect to see RC reach a price target of $8, previously predicting the price at $10. The rating they have provided for RC stocks is “Underperform” according to the report published on March 04th, 2024.
RC Trading at -1.23% 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 -29.97% of loss for the given period.
Volatility was left at 1.88%, however, over the last 30 days, the volatility rate increased by 2.44%, as shares sank -0.06% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.62% lower at present.
During the last 5 trading sessions, RC fell by -1.24%, which changed the moving average for the period of 200-days by -23.47% in comparison to the 20-day moving average, which settled at $8.37. In addition, Ready Capital Corp saw -18.22% 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 10,000 shares at the price of $8.29 back on May 24 ’24. After this action, NATHAN GILBERT E now owns 95,249 shares of Ready Capital Corp, valued at $82,860 using the latest closing price.
NATHAN GILBERT E, the Director of Ready Capital Corp, purchase 7,000 shares at $9.12 during a trade that took place back on Mar 22 ’24, which means that NATHAN GILBERT E is holding 7,000 shares at $63,832 based on the most recent closing price.
Stock Fundamentals for RC
Current profitability levels for the company are sitting at:
- 0.75 for the present operating margin
- 0.92 for the gross margin
The net margin for Ready Capital Corp stands at 0.28. The total capital return value is set at 0.05. Equity return is now at value 11.29, with 2.01 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 3.69. The interest coverage ratio of the stock is 0.81.
Currently, EBITDA for the company is 351.25 million with net debt to EBITDA at 21.94. When we switch over and look at the enterprise to sales, we see a ratio of 12.52. The receivables turnover for the company is 5.39for trailing twelve months and the total asset turnover is 0.07.
Conclusion
To wrap up, the performance of Ready Capital Corp (RC) has been bad in recent times. The stock has received a mixed of “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.
