Rivernorth Capital Management LLC Has $3.90 Million Holdings in GP-Act III Acquisition Corp. $GPAT

Rivernorth Capital Management LLC cut its position in shares of GP-Act III Acquisition Corp. (NASDAQ:GPAT) by 14.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 360,013 shares of the company’s stock after selling 60,098 shares during the quarter. Rivernorth Capital Management LLC’s holdings in GP-Act III Acquisition were worth $3,903,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of GP-Act III Acquisition during the third quarter valued at approximately $85,000. Cannon Global Investment Management LLC grew its position in GP-Act III Acquisition by 38.1% during the 4th quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock worth $155,000 after purchasing an additional 4,000 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in GP-Act III Acquisition during the 3rd quarter worth approximately $203,000. Lineage Point Capital LP acquired a new stake in GP-Act III Acquisition during the 4th quarter valued at $695,000. Finally, Shaolin Capital Management LLC purchased a new stake in shares of GP-Act III Acquisition in the second quarter valued at $1,055,000.

GP-Act III Acquisition Price Performance

NASDAQ GPAT opened at $10.91 on Wednesday. The company has a 50 day simple moving average of $10.96 and a 200-day simple moving average of $10.85. GP-Act III Acquisition Corp. has a 52-week low of $10.50 and a 52-week high of $12.00.

GP-Act III Acquisition (NASDAQ:GPAT) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.06 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

GP-Act III Acquisition Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.