Ready Capital Upgraded to 'Buy' by Analysts at StockNews.com Amidst Other Brokerage Commentary

Ready Capital RC, a reputable real estate finance firm in the United States, has recently received an encouraging update from analysts at StockNews.com. On a note released to investors last Friday, the firm's stock was elevated from a 'hold' rating to a 'buy' recommendation, signaling increased optimism in its financial performance and future prospects.

Analyst Ratings Accumulate

Fostering confidence among shareholders, Ready Capital has been the subject of numerous analytical notes. Wedbush commenced coverage on Ready Capital on October 17th with a 'neutral' rating and established a target price of $11.00. This was followed by Raymond James reducing their price objective from $13.00 to $12.00 while maintaining an 'outperform' rating on August 23rd. Additionally, on August 8th, JMP Securities revised their price target from $15.00 down to $14.00. On a positive note, B. Riley reaffirmed a 'buy' rating and a price objective of $13.00 on August 28th. These divergent views culminate in a 'Hold' consensus rating and an average price target of $12.50, based on data from analyst opinions and reports.

Recent Trading and Company Financials

The trading price for Ready Capital opened at $9.75 on the announcement day. The company's financial health appears stable with a current ratio of 1.83, a quick ratio of 1.63, and a relatively low debt-to-equity ratio of 0.43. Over the recent months, the stock exhibited a fifty-day simple moving average of $10.17 and a two-hundred-day simple moving average of $10.65. The market cap currently stands at $1.68 billion, supported by a PE ratio of 4.08 and a beta of 1.41.

Insider Activities

In pertinent trading news, Thomas E. Capasse, CEO of Ready Capital, executed a sale of 26,623 shares at an average price of $10.70, totaling $284,866.10. This transaction left Capasse owning 309,925 shares, valued at more than $3.3 million. All relevant details were disclosed in a filing with the SEC.

Institutional Investor Movements

The company has also been on the radar of prominent institutional investors. In the second quarter, the Public Employees Retirement System of Ohio boosted their stake by over 163%, owning now 2,289 shares. Nelson Van Denburg & Campbell Wealth Management Group LLC grew their holdings by 232% in Ready Capital during the same period. Likewise, FMR LLC and Creative Financial Designs Inc. ADV have increased their stakes by 37% and 66.7% respectively. As present, institutional investors hold approximately 52.07% of Ready Capital's stock.

About Ready Capital

As a corporation, Ready Capital operates across the United States, offering an array of real estate financial services, including origination and management of small to medium balance commercial loans, Small Business Administration loans, and residential mortgage loans. The company also engages in servicing construction loans, alongside dealing with mortgage-backed securities primarily collateralized by commercial loans or other real estate-related investments.

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