Fintel reports that on August 28, 2023, B. Riley Securities reiterated coverage of Ready Capital (NYSE:RC) with a Buy recommendation.
Analyst Price Forecast Suggests 23.99% Upside
As of August 2, 2023, the average one-year price target for Ready Capital is 13.07. The forecasts range from a low of 10.60 to a high of $15.75. The average price target represents an increase of 23.99% from its latest reported closing price of 10.54.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ready Capital is 303MM, a decrease of 33.37%. The projected annual non-GAAP EPS is 1.73.
What is the Fund Sentiment?
There are 443 funds or institutions reporting positions in Ready Capital. This is an increase of 38 owner(s) or 9.38% in the last quarter. Average portfolio weight of all funds dedicated to RC is 0.14%, an increase of 17.30%. Total shares owned by institutions increased in the last three months by 51.87% to 94,991K shares. 
The put/call ratio of RC is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 11,313K shares representing 6.58% ownership of the company. In it's prior filing, the firm reported owning 7,173K shares, representing an increase of 36.60%. The firm increased its portfolio allocation in RC by 69.42% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,642K shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 1,560K shares, representing an increase of 57.16%. The firm increased its portfolio allocation in RC by 138.66% over the last quarter.
Geode Capital Management holds 3,130K shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 1,646K shares, representing an increase of 47.42%. The firm increased its portfolio allocation in RC by 90.90% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,069K shares representing 1.78% ownership of the company. In it's prior filing, the firm reported owning 3,073K shares, representing a decrease of 0.12%. The firm decreased its portfolio allocation in RC by 15.80% over the last quarter.
IJS - iShares S&P Small-Cap 600 Value ETF holds 2,255K shares representing 1.31% ownership of the company. In it's prior filing, the firm reported owning 1,502K shares, representing an increase of 33.38%. The firm increased its portfolio allocation in RC by 70.91% over the last quarter.
Ready Capital Background Information
(This description is provided by the company.)
Ready Capital Corporation is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.
Additional reading:
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
