Insider Selling: Ridgepost Capital (NYSE:RPC) Insider Sells $97,700.00 in Stock

Key Points

• Insider Andrew Rowan Nelson sold 10,000 shares for $97,700, or $9.77 per share, reducing his position by 15.31%; he retained 55,334 shares.
• Ridgepost announced a quarterly dividend of $0.04 per share, equivalent to an annualized yield of 1.6%.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $13.67; the stock was trading at $9.85 in the report.

Ridgepost Capital, Inc (NYSE:RPC - Get Free Report) insider Andrew Rowan Nelson sold 10,000 shares of Ridgepost Capital stock in a transaction on Friday, November 6th. The shares were sold at an average price of $9.77, for a total transaction of $97,700.00. Following the transaction, the insider owned 55,334 shares in the company, valued at approximately $540,613.18. This trade represents a 15.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ridgepost Capital Price Performance

Ridgepost Capital stock traded down $0.11 during mid-day trading on Tuesday, hitting $9.85. The stock had a trading volume of 417,710 shares, compared to its average volume of 601,372. Ridgepost Capital, Inc has a one year low of $6.79 and a one year high of $11.47. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $1.09 billion, a P/E ratio of 30.77 and a beta of 0.85. The firm's 50 day moving average is $8.33 and its 200 day moving average is $8.16.

Ridgepost Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 30th. Ridgepost Capital's dividend payout ratio (DPR) is 50.00%.

Hedge Funds Weigh In On Ridgepost Capital

Several hedge funds have recently bought and sold shares of RPC. State of Wyoming bought a new stake in shares of Ridgepost Capital during the third quarter valued at approximately $62,000. Squarepoint Ops LLC purchased a new position in Ridgepost Capital during the 2nd quarter valued at about $94,000. Susquehanna International Group LLP purchased a new position in Ridgepost Capital during the 2nd quarter valued at about $96,000. Arizona State Retirement System bought a new stake in shares of Ridgepost Capital in the 2nd quarter valued at about $127,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Ridgepost Capital in the 2nd quarter valued at about $137,000. Institutional investors own 48.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RPC. Wall Street Zen raised Ridgepost Capital from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays raised their target price 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. Weiss Ratings upgraded shares of Ridgepost Capital from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Oppenheimer lowered their price objective on shares of Ridgepost Capital from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ridgepost Capital from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, November 5th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Ridgepost Capital has an average rating of "Moderate Buy" and a consensus target price of $13.67.

Ridgepost Capital Company Profile

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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