State Street Corp Purchases New Stake in Ridgepost Capital, Inc $RPC

Key Points

• State Street Corp acquired 1.72 million Ridgepost Capital shares worth approximately $13.6 million, giving it a 1.56% stake. Institutional investors collectively own 48.05% of the company.
• RPC shares opened at $7.54, below their 50-day moving average of $8.46 and 200-day average of $8.07. The stock has traded between $6.79 and $11.47 over the past year.
• Ridgepost Capital pays a quarterly dividend of $0.04 per share, or $0.16 annually, yielding 2.1%. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.00.

State Street Corp acquired a new position in Ridgepost Capital, Inc (NYSE:RPC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,722,503 shares of the company's stock, valued at approximately $13,556,000. State Street Corp owned 1.56% of Ridgepost Capital at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Ridgepost Capital during the second quarter worth $988,000. Guardian Wealth Management Inc. bought a new stake in shares of Ridgepost Capital during the 2nd quarter valued at about $2,996,000. Caz Investments LP bought a new stake in shares of Ridgepost Capital during the 2nd quarter valued at about $30,345,000. Squarepoint Ops LLC acquired a new stake in Ridgepost Capital during the second quarter worth about $94,000. Finally, Arizona State Retirement System acquired a new stake in Ridgepost Capital during the second quarter worth about $127,000. Institutional investors own 48.05% of the company's stock.

Ridgepost Capital Price Performance

Shares of RPC opened at $7.54 on Friday. Ridgepost Capital, Inc has a one year low of $6.79 and a one year high of $11.47. The stock's fifty day moving average is $8.46 and its 200-day moving average is $8.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a market capitalization of $831.10 million, a price-to-earnings ratio of 30.16 and a beta of 0.87.

Ridgepost Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Monday, August 31st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, August 31st. Ridgepost Capital's payout ratio is 64.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RPC. Wall Street Zen raised Ridgepost Capital from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. Weiss Ratings restated a "hold (c-)" rating on shares of Ridgepost Capital in a research report on Friday, September 4th. Barclays lowered their price objective on Ridgepost Capital from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Finally, Oppenheimer cut their target price on Ridgepost Capital from $16.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Ridgepost Capital Profile

P10, Inc, together with its subsidiaries, operates as a multi-asset class private market solutions provider in the alternative asset management industry in the United States. The company offers private equity, venture capital, private credit, impact investing, and private credit services, as well as primary fund of funds, secondary investment, and direct and co-investments services. It also provides tax credit transaction and consulting services. The company was founded in 1992 and is headquartered in Dallas, Texas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.