Ready Capital (NYSE:RC) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Ready Capital Corp (NYSE:RC) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.95 and traded as low as $1.72. Ready Capital shares last traded at $1.7250, with a volume of 1,193,172 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Piper Sandler decreased their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Ready Capital currently has a consensus rating of “Reduce” and a consensus target price of $2.81.

Ready Capital Price Performance

The stock has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.95. The firm has a market capitalization of $285.00 million, a PE ratio of -0.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. The company had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. Sell-side analysts forecast that Ready Capital Corp will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank increased its holdings in shares of Ready Capital by 234.6% in the 3rd quarter. Huntington National Bank now owns 8,749 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 6,134 shares during the period. Quarry LP grew its stake in Ready Capital by 4,494.6% during the 3rd quarter. Quarry LP now owns 9,373 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 9,169 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new position in Ready Capital during the 3rd quarter worth $39,000. Franklin Resources Inc. purchased a new position in Ready Capital during the 3rd quarter worth $44,000. Finally, M&T Bank Corp purchased a new position in Ready Capital during the 2nd quarter worth $50,000. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

About Ready Capital

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.