Company says expanding investment capabilities and fee-based model support future growth
Overview
US private markets provider's Q2 revenue rose slightly yr/yr
Adjusted EPS for Q2 beat analyst expectations
Company completed Stellus acquisition, expanding investment capabilities
Result drivers
Fee-based model - Co said durability of its fee-based model supported Q2 results
AUM growth - Co cited surpassing $50 bln in AUM and nearly $35 bln in fee-paying AUM as milestones for the quarter
Acquisition impact - Completion of Stellus acquisition broadened investment capabilities and opportunity set
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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 $12.00, about 32.7% above its August 4 closing price of $9.04
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