Wolverine Asset Management LLC Raises Holdings in GP-Act III Acquisition Corp. $GPAT

Wolverine Asset Management LLC boosted its position in GP-Act III Acquisition Corp. (NASDAQ:GPAT) by 90.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 954,866 shares of the company’s stock after purchasing an additional 453,866 shares during the quarter. Wolverine Asset Management LLC’s holdings in GP-Act III Acquisition were worth $10,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alberta Investment Management Corp acquired a new stake in shares of GP-Act III Acquisition in the second quarter valued at about $17,144,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in GP-Act III Acquisition in the 2nd quarter valued at about $2,638,000. Meteora Capital LLC acquired a new stake in GP-Act III Acquisition in the 2nd quarter valued at about $20,330,000. Wealthspring Capital LLC boosted its holdings in shares of GP-Act III Acquisition by 406.1% during the 2nd quarter. Wealthspring Capital LLC now owns 1,059,042 shares of the company’s stock worth $11,173,000 after purchasing an additional 849,783 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of GP-Act III Acquisition during the 2nd quarter worth approximately $2,377,000.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, GP-Act III Acquisition has a consensus rating of “Sell”.

GP-Act III Acquisition Trading Down 0.1%

GPAT opened at $10.72 on Friday. GP-Act III Acquisition Corp. has a one year low of $10.16 and a one year high of $10.73. The business’s 50 day moving average price is $10.68 and its 200 day moving average price is $10.62.

GP-Act III Acquisition (NASDAQ:GPAT) last posted its earnings results on Thursday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter.

About GP-Act III Acquisition

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.