Cartesian Growth Corp III (NASDAQ:CGCT) Posts Earnings Results

Cartesian Growth Corp III (NASDAQ:CGCT) posted its quarterly earnings results on Friday. The company reported $0.05 earnings per share (EPS) for the quarter, Zacks reports.

Cartesian Growth Corp III Stock Down 0.1%

Cartesian Growth Corp III stock traded down $0.01 during mid-day trading on Friday, hitting $10.38. The company’s stock had a trading volume of 279,915 shares, compared to its average volume of 241,710. The firm has a market cap of $358.11 million and a price-to-earnings ratio of 54.63. Cartesian Growth Corp III has a 1 year low of $10.00 and a 1 year high of $10.44. The business has a fifty day moving average price of $10.30.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Readystate Asset Management LP purchased a new position in Cartesian Growth Corp III in the fourth quarter worth approximately $257,000. Rivernorth Capital Management LLC boosted its stake in Cartesian Growth Corp III by 23.1% during the fourth quarter. Rivernorth Capital Management LLC now owns 133,142 shares of the company’s stock worth $1,371,000 after buying an additional 24,999 shares during the period. PenderFund Capital Management Ltd. purchased a new position in Cartesian Growth Corp III during the fourth quarter worth about $234,000. Cantor Fitzgerald L. P. purchased a new position in Cartesian Growth Corp III during the fourth quarter worth about $7,300,000. Finally, Fort Baker Capital Management LP purchased a new position in Cartesian Growth Corp III during the fourth quarter worth about $26,037,000.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on shares of Cartesian Growth Corp III in a report on Monday, January 26th. They issued a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

About Cartesian Growth Corp III

Cartesian Growth Corp III (NASDAQ: CGCT) is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company, that is listed on the Nasdaq stock exchange. As a SPAC, Cartesian Growth Corp III was formed to raise capital through an initial public offering with the objective of identifying, negotiating and completing one or more business combinations or acquisitions. The company itself does not operate an ongoing commercial business prior to completing a business combination.

The company’s principal activities center on sourcing potential acquisition targets, conducting due diligence, arranging transaction financing and completing a business combination that would result in an operating public company.