Ridgepost Capital Q3 profit misses estimates

Overview

• US private markets provider's fee-paying AUM rose 21% yr/yr to over $35 bln, margins stable

• Adjusted EPS for Q3 missed analyst expectations

• Company repurchased $15 mln in stock and raised buyback authorization by $30 mln

Outlook

• Company says operating environment remains fluid

• Company expects contractual model and platform to support consistent results

Result Drivers

• FUNDRAISING ACTIVITY - Co said Q3 results benefited from raising and deploying $1.3 bln of fee-paying AUM

• CROSS-SELLING - Increased cross-selling across strategies contributed $1.7 bln to fundraising since June 2024

• CONTRACTUAL MODEL - Co said contractual fee structure and platform diversity supported consistent results

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy"

• Wall Street's median 12-month price target for Ridgepost Capital Inc is $11.00, about 17% above its November 3 closing price of $9.40

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads

• Nov 3 - Hamilton Lane raises full-year dividend target by 11%

• Nov 2 - India regulator backs scrapping long-term capital gains tax for foreigners, sources say

• Nov 3 - Thomson Reuters Q3 revenue, profit miss estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)