DLD Asset Management LP Makes New $1.24 Million Investment in IG Acquisition Corp. $IGAC

DLD Asset Management LP bought a new stake in shares of IG Acquisition Corp. (NASDAQ:IGAC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 125,000 shares of the company’s stock, valued at approximately $1,238,000. DLD Asset Management LP owned approximately 1.25% of IG Acquisition as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IGAC. Adage Capital Partners GP L.L.C. bought a new stake in shares of IG Acquisition in the 4th quarter worth approximately $13,284,000. Radcliffe Capital Management L.P. bought a new position in IG Acquisition during the 4th quarter valued at approximately $5,412,000. First Trust Capital Management L.P. purchased a new position in IG Acquisition during the fourth quarter valued at $4,920,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in IG Acquisition during the fourth quarter valued at $3,936,000. Finally, Hudson Bay Capital Management LP bought a new stake in IG Acquisition in the fourth quarter worth $2,523,000. 38.82% of the stock is currently owned by hedge funds and other institutional investors.

IG Acquisition Price Performance

IGAC stock opened at $10.03 on Thursday. The stock’s 50 day simple moving average is $10.01 and its 200 day simple moving average is $9.96. IG Acquisition Corp. has a 12-month low of $9.82 and a 12-month high of $10.05.

IG Acquisition (NASDAQ:IGAC) last posted its earnings results on Friday, May 15th. The company reported $0.06 EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised IG Acquisition from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, IG Acquisition currently has a consensus rating of “Sell”.

IG Acquisition Profile

IG Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.