Ridgepost Capital (NYSE:RPC) Insider Sells $285,846.40 in Stock

Ridgepost Capital, Inc (NYSE:RPC) insider Alexander Abell sold 29,168 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $9.80, for a total value of $285,846.40. Following the completion of the sale, the insider owned 300,000 shares of the company’s stock, valued at $2,940,000. This represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ridgepost Capital Trading Down 0.6%

NYSE:RPC traded down $0.06 during mid-day trading on Thursday, hitting $9.76. The company had a trading volume of 86,343 shares, compared to its average volume of 597,566. Ridgepost Capital, Inc has a fifty-two week low of $6.79 and a fifty-two week high of $11.47. The business’s fifty day moving average is $8.38 and its two-hundred day moving average is $8.18. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.71 and a current ratio of 2.49. The firm has a market cap of $1.08 billion, a P/E ratio of 30.49 and a beta of 0.85.

Ridgepost Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 30th will be given 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 is Monday, November 30th. Ridgepost Capital’s payout ratio is presently 50.00%.

Institutional Trading of Ridgepost Capital

Hedge funds have recently added to or reduced their stakes in the business. Caz Investments LP acquired a new stake in Ridgepost Capital during the 2nd quarter worth $30,345,000. State Street Corp acquired a new position in Ridgepost Capital in the second quarter valued at about $13,556,000. Russell Investments Group Ltd. grew its stake 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 acquiring an additional 137,445 shares during the period. Guardian Wealth Management Inc. acquired a new position in Ridgepost Capital in the second quarter valued at about $2,996,000. Finally, Voya Investment Management LLC increased its holdings in shares of Ridgepost Capital by 19.6% in the third quarter. Voya Investment Management LLC now owns 346,048 shares of the company’s stock worth $2,571,000 after acquiring an additional 56,666 shares in the last quarter. Institutional investors and hedge funds own 48.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RPC. Oppenheimer lowered 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. Barclays lifted their price objective on shares of Ridgepost Capital from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Wall Street Zen upgraded shares of Ridgepost Capital from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Ridgepost Capital from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Finally, Weiss Ratings raised shares of Ridgepost Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Three analysts have rated the stock with a Buy rating and two have assigned 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.

About Ridgepost Capital

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.