FG Merger II Corp. $FGMC Shares Sold by Clear Street Group Inc.

Clear Street Group Inc. lowered its holdings in shares of FG Merger II Corp. (NASDAQ:FGMC) by 91.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the company’s stock after selling 504,377 shares during the period. Clear Street Group Inc.’s holdings in FG Merger II were worth $502,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FGMC. Flow Traders U.S. LLC acquired a new stake in FG Merger II during the 2nd quarter worth $115,000. Crossingbridge Advisors LLC increased its holdings in shares of FG Merger II by 148.8% in the 4th quarter. Crossingbridge Advisors LLC now owns 60,904 shares of the company’s stock valued at $610,000 after purchasing an additional 36,424 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of FG Merger II in the 2nd quarter valued at about $789,000. DLD Asset Management LP increased its holdings in shares of FG Merger II by 10.7% in the 4th quarter. DLD Asset Management LP now owns 110,725 shares of the company’s stock valued at $1,112,000 after purchasing an additional 10,725 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of FG Merger II by 128.8% in the 3rd quarter. Quarry LP now owns 177,635 shares of the company’s stock valued at $1,775,000 after purchasing an additional 100,000 shares in the last quarter.

FG Merger II Trading Down 12.0%

NASDAQ:FGMC opened at $9.20 on Tuesday. The firm has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $10.13. FG Merger II Corp. has a twelve month low of $9.00 and a twelve month high of $11.76. The company has a market capitalization of $23.92 million, a P/E ratio of 920.00 and a beta of 0.07.

FG Merger II (NASDAQ:FGMC) last posted its earnings results on Thursday, May 14th. The company reported $0.04 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FGMC. Wall Street Zen downgraded shares of FG Merger II from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of FG Merger II in a report on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About FG Merger II

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.