Highbridge Capital Management LLC Acquires 305,282 Shares of FG Merger II Corp. $FGMC

Highbridge Capital Management LLC increased its holdings in FG Merger II Corp. (NASDAQ:FGMC) by 119.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 559,889 shares of the company’s stock after purchasing an additional 305,282 shares during the quarter. Highbridge Capital Management LLC owned approximately 21.53% of FG Merger II worth $5,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Berkley W R Corp purchased a new stake in FG Merger II in the 3rd quarter worth about $3,158,000. Clear Street Group Inc. purchased a new stake in FG Merger II in the 3rd quarter worth about $5,539,000. Quarry LP increased its holdings in FG Merger II by 128.8% in the 3rd quarter. Quarry LP now owns 177,635 shares of the company’s stock worth $1,775,000 after acquiring an additional 100,000 shares during the last quarter. SkyView Investment Advisors LLC purchased a new stake in FG Merger II in the 2nd quarter worth about $789,000. Finally, Flow Traders U.S. LLC purchased a new stake in FG Merger II in the 2nd quarter worth about $115,000.

FG Merger II Stock Up 0.8%

FGMC stock opened at $10.44 on Friday. The firm has a market capitalization of $27.14 million, a PE ratio of 1,044.00 and a beta of 0.07. FG Merger II Corp. has a twelve month low of $9.73 and a twelve month high of $11.76. The stock has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $10.12.

FG Merger II (NASDAQ:FGMC) last posted its earnings results on Thursday, May 14th. The company reported $0.04 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

FGMC has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of FG Merger II in a report on Friday, May 29th. Wall Street Zen lowered FG Merger II from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus 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.