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

Key Points

• Insider Alexander Abell sold 29,168 shares for $285,846.40 at an average price of $9.80, reducing his ownership by 8.86% to 300,000 shares.
• RPC shares traded at $9.76, with a market capitalization of $1.08 billion. The company announced a quarterly dividend of $0.04 per share, equivalent to a 1.6% annualized yield.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $13.67; three analysts rate the stock Buy and two rate it Hold.

Ridgepost Capital, Inc (NYSE:RPC - Get Free Report) insider Alexander Abell sold 29,168 shares of Ridgepost Capital 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 transaction, the insider directly owned 300,000 shares of the company's stock, valued at $2,940,000. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ridgepost Capital Price Performance

NYSE RPC traded down $0.06 on Thursday, hitting $9.76. 86,343 shares of the company were exchanged, compared to its average volume of 597,566. Ridgepost Capital, Inc has a 1-year low of $6.79 and a 1-year high of $11.47. The firm has a 50 day moving average of $8.38 and a two-hundred day moving average of $8.18. 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 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 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, November 30th. Ridgepost Capital's dividend payout ratio is presently 50.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RPC. Oppenheimer lowered their price target on shares of Ridgepost Capital from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, November 5th. JPMorgan Chase & Co. upped their price objective on Ridgepost Capital from $14.00 to $15.00 and gave the stock 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, Barclays boosted their target price on Ridgepost Capital from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, November 5th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Ridgepost Capital presently has a consensus rating of "Moderate Buy" and an average price target of $13.67.

Institutional Investors Weigh In On Ridgepost Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caz Investments LP acquired a new position in Ridgepost Capital in the second quarter valued at approximately $30,345,000. State Street Corp grew its holdings in Ridgepost Capital by 4.2% during the 3rd quarter. State Street Corp now owns 1,794,529 shares of the company's stock worth $13,333,000 after acquiring an additional 72,026 shares during the period. Russell Investments Group Ltd. grew its holdings in Ridgepost Capital by 21.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 770,308 shares of the company's stock worth $5,723,000 after acquiring an additional 137,445 shares during the period. Guardian Wealth Management Inc. raised its position in shares of Ridgepost Capital by 1.1% during the 3rd quarter. Guardian Wealth Management Inc. now owns 384,799 shares of the company's stock valued at $2,859,000 after acquiring an additional 4,114 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Ridgepost Capital by 19.6% during the 3rd 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 owned by 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.

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