Ridgepost Capital (NYSE:RPC) Insider Alexander Abell Sells 29,168 Shares of Company Stock

Ridgepost Capital, Inc (NYSE:RPC) insider Alexander Abell sold 29,168 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $9.80, for a total transaction of $285,846.40. Following the completion of the transaction, the insider owned 300,000 shares of the company’s stock, valued at approximately $2,940,000. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ridgepost Capital Stock Performance

RPC stock opened at $9.52 on Friday. The stock has a market capitalization of $1.05 billion, a PE ratio of 13.64 and a beta of 0.85. Ridgepost Capital, Inc has a 12-month low of $6.79 and a 12-month high of $11.47. 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 stock’s 50 day simple moving average is $8.41 and its 200 day simple moving average is $8.19.

Ridgepost Capital Dividend Announcement

The firm 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 $0.04 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.16 annualized dividend and a dividend yield of 1.7%. Ridgepost Capital’s payout ratio is currently 50.00%.

Analysts Set New Price Targets

RPC has been the topic of a number of research analyst reports. Wall Street Zen raised Ridgepost Capital from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Weiss Ratings raised Ridgepost Capital from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. 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. Oppenheimer lowered their target price on shares of Ridgepost Capital from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Finally, Barclays raised their price target on shares of Ridgepost Capital from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Three equities research 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 an average target price of $13.67.

Hedge Funds Weigh In On Ridgepost Capital

A number of institutional investors and hedge funds have recently modified their holdings of RPC. State Street Corp increased its position in Ridgepost Capital by 4.2% during the third quarter. State Street Corp now owns 1,794,529 shares of the company’s stock valued at $13,333,000 after acquiring an additional 72,026 shares during the last quarter. Voya Investment Management LLC lifted its holdings 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 period. Russell Investments Group Ltd. boosted its position in Ridgepost Capital by 21.7% in the third quarter. Russell Investments Group Ltd. now owns 770,308 shares of the company’s stock worth $5,723,000 after purchasing an additional 137,445 shares during the last quarter. Guardian Wealth Management Inc. boosted its position in Ridgepost Capital by 1.1% in the third quarter. Guardian Wealth Management Inc. now owns 384,799 shares of the company’s stock worth $2,859,000 after purchasing an additional 4,114 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in Ridgepost Capital in the third quarter worth about $196,000. 48.05% of the stock is currently owned by hedge funds and other institutional investors.

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.