Key Points
- Insider Alexander Abell sold 29,168 Ridgepost Capital shares at an average $9.80 each, for about $285,846. After the sale, he owned 300,000 shares, an 8.86% reduction in his stake.
- Ridgepost declared a quarterly dividend of $0.04 per share, equivalent to an annualized yield of about 1.7%.
- Analyst sentiment was moderately positive: RPC had a consensus “Moderate Buy” rating and an average price target of $13.67, with three Buy and two Hold ratings.
Ridgepost Capital, Inc (NYSE:RPC - Get Free Report) insider Alexander Abell sold 29,168 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $9.80, for a total transaction of $285,846.40. Following the sale, the insider owned 300,000 shares of the company's stock, valued at $2,940,000. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Ridgepost Capital Stock Down 3.1%
Shares of RPC stock opened at $9.52 on Friday. Ridgepost Capital, Inc has a 12 month low of $6.79 and a 12 month high of $11.47. The stock has a market cap of $1.05 billion, a P/E ratio of 13.64 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 simple moving average of $8.41 and a two-hundred day simple moving average of $8.19.
Ridgepost Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 30th will be given a $0.04 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.16 dividend on an annualized basis and a yield of 1.7%. Ridgepost Capital's dividend payout ratio is presently 50.00%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on RPC shares. JPMorgan Chase & Co. increased their price objective on shares of Ridgepost Capital from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, November 5th. Barclays raised their price target on Ridgepost Capital from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, November 5th. Wall Street Zen upgraded Ridgepost Capital from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Weiss Ratings raised Ridgepost Capital from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Finally, Oppenheimer dropped their price target on Ridgepost Capital from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, November 5th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.67.
Get Our Latest Stock Report on RPC
Institutional Investors Weigh In On Ridgepost Capital
A number of hedge funds have recently made changes to their positions in RPC. Caz Investments LP purchased a new position in Ridgepost Capital during the 2nd quarter valued at approximately $30,345,000. State Street Corp purchased a new stake in shares of Ridgepost Capital during the 2nd quarter worth approximately $13,556,000. Guardian Wealth Management Inc. bought a new position in shares of Ridgepost Capital during the 2nd quarter valued at approximately $2,996,000. Russell Investments Group Ltd. boosted its position in shares of Ridgepost Capital by 21.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 770,308 shares of the company's stock valued at $5,723,000 after acquiring an additional 137,445 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Ridgepost Capital during the 2nd quarter valued at approximately $988,000. 48.05% of the stock is currently owned by hedge funds and other institutional investors.
Ridgepost Capital Company Profile
(
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.
Recommended Stories
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].
