SoFi CEO enters prepaid forward contract on 1.5 million shares
In a challenging year for Sutherland Asset Management Corp (NYSE:RC), the company’s stock has tumbled to $4.60, near its 52-week low of $4.72. With a beta of 1.51, the stock’s high volatility has been evident in its dramatic decline from the 52-week high of $9.54. This latest price point underscores a period of significant bearish momentum for the asset management firm, which has seen its stock value erode by nearly half, with a six-month decline of 29.08%. Investors have been wary as the company navigates through a tough market environment, with macroeconomic factors and industry-specific headwinds contributing to the downward pressure on its share price. The current price level serves as a stark indicator of the hurdles Sutherland has faced, though InvestingPro analysis suggests the stock may be undervalued at current levels. For deeper insights into Sutherland’s valuation and 12+ additional exclusive ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Ready Capital Corporation reported its fourth-quarter 2024 earnings, revealing a significant miss with a GAAP loss of $1.90 per share, contrary to expectations of a profit. The company also reported a decrease in revenue from core operations by 12% to $91.6 million, coupled with a reduction in its dividend to $0.125 per share. In related developments, Ready Capital has filed a new registration statement with the SEC for the continued offering of its common stock, allowing for sales up to an aggregate offering price of $150 million. This procedural move ensures the availability of unsold shares from a previous offering.
Keefe, Bruyette & Woods adjusted their financial outlook for Ready Capital by reducing the price target from $6.25 to $4.00, maintaining an Underperform rating. The firm cited a smaller interest-earning portfolio and anticipated costs as reasons for the downgrade. Additionally, Citizens JMP downgraded Ready Capital’s stock rating from ’Market Outperform’ to ’Market Perform,’ reflecting recent strategic advancements in the company’s treatment options. These recent developments highlight the challenges and strategic maneuvers Ready Capital is navigating in the current market environment.
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