MMCAP International Inc. SPC Acquires New Stake in Strive, Inc. $ASST

MMCAP International Inc. SPC bought a new stake in shares of Strive, Inc. (NASDAQ:ASST) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,518,519 shares of the company’s stock, valued at approximately $46,296,000. Strive accounts for 5.3% of MMCAP International Inc. SPC’s portfolio, making the stock its 2nd biggest position. MMCAP International Inc. SPC owned 1.11% of Strive at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Gruss & Co. LLC purchased a new stake in Strive during the third quarter worth about $38,000. Engineers Gate Manager LP purchased a new position in shares of Strive in the second quarter valued at approximately $40,000. Osaic Holdings Inc. acquired a new position in shares of Strive in the second quarter valued at approximately $41,000. Tower Research Capital LLC TRC grew its holdings in shares of Strive by 180.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock valued at $41,000 after purchasing an additional 7,057 shares in the last quarter. Finally, Creative Planning purchased a new stake in Strive during the 2nd quarter worth approximately $79,000. 5.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Benjamin Pham acquired 6,214 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was acquired at an average cost of $8.06 per share, with a total value of $50,084.84. Following the transaction, the chief financial officer owned 6,214 shares in the company, valued at approximately $50,084.84. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Ryan Cole bought 25,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were purchased at an average price of $18.40 per share, with a total value of $460,000.00. Following the purchase, the chief executive officer owned 38,150 shares of the company’s stock, valued at approximately $701,960. This represents a 190.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 61,935 shares of company stock worth $944,387 over the last 90 days. Company insiders own 2.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ASST shares. Maxim Group set a $30.00 price target on shares of Strive and gave the company a “buy” rating in a research report on Wednesday, December 10th. Wall Street Zen raised Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings reiterated a “sell (e-)” rating on shares of Strive in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.00.

Strive Stock Up 0.4%

Shares of Strive stock opened at $8.15 on Monday. Strive, Inc. has a 52-week low of $7.57 and a 52-week high of $268.40. The company has a market capitalization of $508.32 million, a P/E ratio of -1.36 and a beta of 16.87. The company has a 50 day moving average of $15.23 and a 200 day moving average of $41.31.

Strive Profile

Asset Entities, Inc (NASDAQ: ASST) is a specialty finance company that acquires, originates and services asset-backed loans and receivables across a range of industry sectors. The firm focuses on structuring and managing credit portfolios in equipment finance, commercial receivables and other asset-backed classes, employing securitization vehicles and bespoke financing solutions to deliver liquidity to underserved small- and mid-market borrowers.

Through its platform, Asset Entities leverages data-driven underwriting, risk management and portfolio optimization to create diversified exposure across end markets.