Highbridge Capital Management LLC Grows Stock Position in FG Merger II Corp. $FGMC

Highbridge Capital Management LLC increased its stake in shares of FG Merger II Corp. (NASDAQ:FGMC) by 163.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,607 shares of the company’s stock after purchasing an additional 157,902 shares during the quarter. Highbridge Capital Management LLC owned 9.79% of FG Merger II worth $2,544,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FGMC. Flow Traders U.S. LLC purchased a new position in shares of FG Merger II in the 2nd quarter valued at about $115,000. Crossingbridge Advisors LLC acquired a new stake in FG Merger II in the second quarter valued at approximately $242,000. Wolverine Asset Management LLC purchased a new position in FG Merger II in the second quarter worth approximately $277,000. SkyView Investment Advisors LLC purchased a new position in FG Merger II in the second quarter worth approximately $789,000. Finally, Bluefin Capital Management LLC acquired a new position in FG Merger II during the 2nd quarter worth approximately $1,167,000.

FG Merger II Price Performance

Shares of FGMC opened at $10.07 on Friday. The company has a market capitalization of $26.18 million and a price-to-earnings ratio of 1,007.00. FG Merger II Corp. has a 52-week low of $9.53 and a 52-week high of $10.25. The stock has a 50 day moving average price of $10.06 and a 200 day moving average price of $10.02.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of FG Merger II in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, FG Merger II currently has an average rating of “Sell”.

About FG Merger II

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.