In a filing, Ready Capital Corporation revealed its Director NATHAN GILBERT E acquired Company’s shares for reported $42443.0 on Mar 08. In the deal valued at $11.05 per share,3,841 shares were bought. As a result of this transaction, NATHAN GILBERT E now holds 60,406 shares worth roughly $ 0.62 million.
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Then, NATHAN GILBERT E bought 5,000 shares, generating $54,773 in total proceeds. Upon buying the shares at $10.95, the Director now owns 56,565 shares.
Before that, Mielle Dominique bought 7,500 shares. Ready Capital Corporation shares valued at $106,124 were divested by the Director at a price of $14.15 per share. As a result of the transaction, Mielle Dominique now holds 35,988 shares, worth roughly $0.37 million.
Keefe Bruyette downgraded its Ready Capital Corporation [RC] rating to a Mkt perform from a an Outperform in a research note published on Friday. PT values the company’s stock at a premium of 20.77 to its Friday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in mid October with a ‘”a Neutral”‘ rating. Piper Sandler also remained covering RC and has decreased its forecast on July 08, 2021 with a “Neutral” recommendation from previously “an Overweight” rating. Keefe Bruyette revised its rating on April 22, 2021. It rated RC as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of RC
On Friday, Ready Capital Corporation [NYSE:RC] saw its stock fall -3.65% to $10.30. On the same session, the stock had its day’s lowest price of $10.24, but rose to a high of $10.76. Over the last five days, the stock has lost -7.87%. Ready Capital Corporation shares have fallen nearly -7.54% since the year began. Nevertheless, the stocks have fallen -32.06% over the past one year. While a 52-week high of $15.92 was reached on 02/02/23, a 52-week low of $9.69 was recorded on 03/10/23. SMA at 50 days reached $12.21, while 200 days put it at $12.53. A total of 2.12 million shares were traded, compared to the trading of 2.01 million shares in the previous session.
Levels Of Support And Resistance For RC Stock
The 24-hour chart illustrates a support level at 10.11, which if violated will result in even more drops to 9.91. On the upside, there is a resistance level at 10.63. A further resistance level may holdings at 10.95. The Relative Strength Index (RSI) on the 14-day chart is 24.05, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.76, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.94%. Stochastics %K at 8.84% indicates the stock is a buying.
How much short interest is there in Ready Capital Corporation?
A steep rise in short interest was recorded in Ready Capital Corporation stocks on Jan 12, 2023, dropping by -0.46 million shares to a total of 3.7 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 4.16 million shares. There was a decline of -12.43%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.34% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.88.
Ready Capital Corporation [RC] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 14,858,053 shares, or roughly 13.45% of the outstanding RC shares. In other words, the investor’s shares have risen by 3,277,939 from its previous 13-F filing of 11580114.0. Additionally, Waterfall Asset Management LLC decreased -2.97% of its stake after which the total value it holdings stand at $128,713,612, while The Vanguard Group, Inc. added 3.16% of its stake to hold $72.99 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 157,180 shares of Ready Capital Corporation, while Mission Wealth Management LP bought -26,568 shares. At present, Soltis Investment Advisors LLC is holding 1,703,194 shares valued at $19.18 million. Invesco Capital Management LLC owned 1,672,995 shares of the company at the time of its most recent 13F filing, worth $18.84 million.
According to FactSet, Ready Capital Corporation’s share price will average $13.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.3 percent from its previous closing price of $10.69. Analysts expect Ready Capital Corporation stock to reach the higher price of $16.00, while the lowest price estimate is $11.50. The most recent change occurred on February 03, 2021 when BTIG Research began covering the stock and recommended ‘”a Buy”‘ rating along with a $14 price target.