Sona Asset Management US LLC Makes New Investment in GP-Act III Acquisition Corp. $GPAT

Sona Asset Management US LLC bought a new position in shares of GP-Act III Acquisition Corp. (NASDAQ:GPAT) in the first quarter, Holdings Channel.com reports. The fund bought 200,000 shares of the company’s stock, valued at approximately $2,168,000.

Other hedge funds have also modified their holdings of the company. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of GP-Act III Acquisition in the second quarter worth about $7,800,000. L1 Global Manager Pty Ltd purchased a new stake in GP-Act III Acquisition during the 4th quarter valued at about $6,067,000. Berkley W R Corp grew its stake in GP-Act III Acquisition by 171.2% during the 1st quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after acquiring an additional 534,533 shares in the last quarter. Westchester Capital Management LLC raised its holdings in GP-Act III Acquisition by 22.5% in the 4th quarter. Westchester Capital Management LLC now owns 1,360,852 shares of the company’s stock valued at $14,561,000 after acquiring an additional 250,000 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in GP-Act III Acquisition in the 2nd quarter valued at about $2,377,000.

GP-Act III Acquisition Stock Up 1.3%

Shares of GPAT opened at $11.05 on Monday. GP-Act III Acquisition Corp. has a 52-week low of $10.50 and a 52-week high of $12.00. The stock has a fifty day simple moving average of $10.95 and a two-hundred day simple moving average of $10.85.

GP-Act III Acquisition (NASDAQ:GPAT) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.06 EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GP-Act III Acquisition presently has an average rating of “Sell”.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.