Lineage Point Capital LP Invests $4.40 Million in Blue Acquisition Corp/Cayman $BACC

Lineage Point Capital LP acquired a new stake in Blue Acquisition Corp/Cayman (NASDAQ:BACC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 431,351 shares of the company’s stock, valued at approximately $4,404,000. Blue Acquisition Corp/Cayman accounts for about 1.7% of Lineage Point Capital LP’s portfolio, making the stock its 17th largest holding.

Other hedge funds have also recently made changes to their positions in the company. MYDA Advisors LLC acquired a new position in Blue Acquisition Corp/Cayman during the 4th quarter valued at about $756,000. Alberta Investment Management Corp bought a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $7,147,000. Governors Lane LP increased its position in shares of Blue Acquisition Corp/Cayman by 50.0% during the fourth quarter. Governors Lane LP now owns 300,000 shares of the company’s stock valued at $3,063,000 after acquiring an additional 100,000 shares during the last quarter. Radcliffe Capital Management L.P. lifted its holdings in Blue Acquisition Corp/Cayman by 9.4% during the fourth quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock worth $5,351,000 after acquiring an additional 44,880 shares during the period. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. lifted its holdings in Blue Acquisition Corp/Cayman by 9.8% during the fourth quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,317,152 shares of the company’s stock worth $13,448,000 after acquiring an additional 117,152 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Blue Acquisition Corp/Cayman Stock Down 0.2%

Shares of BACC opened at $10.43 on Friday. The business has a 50-day moving average price of $10.36. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $10.50.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.07 EPS for the quarter.

About Blue Acquisition Corp/Cayman

Blue Acquisition Corp/Cayman (NASDAQ: BACC) is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company. As a blank-check vehicle, its primary business activity is to raise capital through its public listing and use those proceeds to identify, negotiate and complete a merger, acquisition, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses.

Like other SPACs, Blue Acquisition typically holds the funds raised in trust pending the completion of a qualifying business combination and provides public investors with the opportunity to vote on proposed transactions and to seek redemption of their shares in accordance with the company’s governing documents.