Key Points
- Insider Andrew Rowan Nelson sold 10,000 shares at an average of $9.77, for $97,700. He retained 55,334 shares after the sale, a 15.31% reduction in his position.
- Ridgepost declared a quarterly dividend of $0.04 per share, equivalent to $0.16 annually and a 1.6% yield. The dividend is payable December 18 to shareholders of record November 30.
- Analysts’ consensus rating is “Moderate Buy,” with a $13.67 consensus price target; three analysts rate the stock Buy and two rate it Hold.
Ridgepost Capital, Inc (NYSE:RPC - Get Free Report) insider Andrew Rowan Nelson sold 10,000 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $9.77, for a total transaction of $97,700.00. Following the sale, the insider directly owned 55,334 shares in the company, valued at approximately $540,613.18. This represents a 15.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Ridgepost Capital Trading Down 1.1%
Shares of NYSE RPC opened at $9.85 on Wednesday. Ridgepost Capital, Inc has a 1-year low of $6.79 and a 1-year high of $11.47. The company has a market cap of $1.09 billion, a PE ratio of 13.83 and a beta of 0.85. The company has a current ratio of 2.49, a quick ratio of 2.71 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average of $8.36 and a two-hundred day moving average of $8.17.
Ridgepost Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, November 30th. Ridgepost Capital's dividend payout ratio is 50.00%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RPC. Caz Investments LP bought a new position in shares of Ridgepost Capital in the 2nd quarter valued at about $30,345,000. State Street Corp acquired a new position in Ridgepost Capital in the second quarter valued at approximately $13,556,000. Russell Investments Group Ltd. lifted its holdings in Ridgepost Capital by 21.7% in the third quarter. Russell Investments Group Ltd. now owns 770,308 shares of the company's stock valued at $5,723,000 after buying an additional 137,445 shares during the period. Guardian Wealth Management Inc. bought a new position in Ridgepost Capital in the second quarter valued at approximately $2,996,000. Finally, Voya Investment Management LLC boosted its stake in Ridgepost Capital by 19.6% in the third quarter. Voya Investment Management LLC now owns 346,048 shares of the company's stock valued at $2,571,000 after acquiring an additional 56,666 shares during the last quarter. 48.05% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on RPC shares. Weiss Ratings upgraded shares of Ridgepost Capital from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded Ridgepost Capital from a "hold" rating to a "buy" rating in a research report on Saturday. Oppenheimer decreased their price objective on Ridgepost Capital from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, November 5th. Barclays lifted their target price on Ridgepost Capital from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on Ridgepost Capital from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, November 5th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.67.
Get Our Latest Analysis on Ridgepost Capital
About Ridgepost Capital
(
Get Free Report)
Ridgepost Capital is a special purpose acquisition company (SPAC). Its primary business is to identify and complete a merger, acquisition, share exchange, or similar transaction with an operating business. Before completing a business combination, Ridgepost Capital does not have the operating activities or products of a standalone commercial business. Its future operations would depend on the company it combines with. Reliable information identifying a target industry, geographic focus, or company leadership was not available, so these details are not included.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
