431,351 Shares in Blue Acquisition Corp/Cayman $BACC Acquired by Lineage Point Capital LP

Lineage Point Capital LP bought a new position in shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 431,351 shares of the company’s stock, valued at approximately $4,404,000. Blue Acquisition Corp/Cayman comprises 1.7% of Lineage Point Capital LP’s investment portfolio, making the stock its 17th largest position. Lineage Point Capital LP owned 1.54% of Blue Acquisition Corp/Cayman at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Meteora Capital LLC acquired a new position in shares of Blue Acquisition Corp/Cayman during the fourth quarter worth approximately $136,000. Stoic Point Capital Management LLC bought a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at about $255,000. HRT Financial LP bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $318,000. Heights Capital Management Inc. acquired a new stake in Blue Acquisition Corp/Cayman in the fourth quarter worth $342,000. Finally, Boothbay Fund Management LLC acquired a new stake in Blue Acquisition Corp/Cayman during the 4th quarter worth $464,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Blue Acquisition Corp/Cayman presently has an average rating of “Sell”.

Blue Acquisition Corp/Cayman Stock Performance

BACC stock opened at $10.43 on Friday. Blue Acquisition Corp/Cayman has a 12 month low of $9.95 and a 12 month high of $10.50. The firm has a 50-day moving average price of $10.36.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last released its quarterly earnings data on Monday, May 11th. The company reported $0.07 earnings per share (EPS) for the quarter.

Blue Acquisition Corp/Cayman Profile

Blue Acquisition Corp/Cayman (NASDAQ: BACC) is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company. As a blank-check vehicle, its primary business activity is to raise capital through its public listing and use those proceeds to identify, negotiate and complete a merger, acquisition, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses.

Like other SPACs, Blue Acquisition typically holds the funds raised in trust pending the completion of a qualifying business combination and provides public investors with the opportunity to vote on proposed transactions and to seek redemption of their shares in accordance with the company’s governing documents.