Melar Acquisition Corp. I $MACI Shares Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC raised its stake in shares of Melar Acquisition Corp. I (NASDAQ:MACI) by 137.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 926,328 shares of the company’s stock after buying an additional 536,276 shares during the quarter. Wolverine Asset Management LLC’s holdings in Melar Acquisition Corp. I were worth $9,726,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Meteora Capital LLC purchased a new stake in shares of Melar Acquisition Corp. I in the second quarter valued at $11,669,000. Magnetar Financial LLC acquired a new position in Melar Acquisition Corp. I in the 2nd quarter valued at about $3,861,000. Alberta Investment Management Corp purchased a new position in Melar Acquisition Corp. I in the 2nd quarter valued at about $3,412,000. Wealthspring Capital LLC lifted its holdings in Melar Acquisition Corp. I by 181.7% in the 2nd quarter. Wealthspring Capital LLC now owns 459,235 shares of the company’s stock valued at $4,827,000 after purchasing an additional 296,185 shares in the last quarter. Finally, Radcliffe Capital Management L.P. acquired a new stake in shares of Melar Acquisition Corp. I during the 2nd quarter worth about $3,094,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Melar Acquisition Corp. I Stock Performance

Melar Acquisition Corp. I stock opened at $10.69 on Friday. Melar Acquisition Corp. I has a 1 year low of $10.11 and a 1 year high of $10.97. The firm has a 50 day moving average price of $10.61 and a 200 day moving average price of $10.57.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.05 earnings per share for the quarter.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.