Rivernorth Capital Management LLC Acquires Shares of 432,502 Starboard Value Acquisition Corp. $SVAC

Rivernorth Capital Management LLC acquired a new stake in Starboard Value Acquisition Corp. (NASDAQ:SVAC) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 432,502 shares of the company’s stock, valued at approximately $4,394,000. Rivernorth Capital Management LLC owned 0.86% of Starboard Value Acquisition at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. First Trust Capital Management L.P. bought a new position in shares of Starboard Value Acquisition during the 3rd quarter worth approximately $3,466,000. Gritstone Asset Management LLC bought a new stake in Starboard Value Acquisition in the fourth quarter valued at $1,015,000. Wealthspring Capital LLC acquired a new position in Starboard Value Acquisition during the fourth quarter worth $4,080,000. HighTower Advisors LLC acquired a new position in Starboard Value Acquisition during the fourth quarter worth $684,000. Finally, Periscope Capital Inc. bought a new position in shares of Starboard Value Acquisition during the fourth quarter valued at $4,823,000.

Starboard Value Acquisition Price Performance

NASDAQ SVAC opened at $9.12 on Wednesday. Starboard Value Acquisition Corp. has a 1-year low of $7.35 and a 1-year high of $12.00. The company has a 50 day moving average of $9.96 and a 200-day moving average of $10.25.

Starboard Value Acquisition (NASDAQ:SVAC) last announced its earnings results on Thursday, May 14th. The company reported ($13.80) EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Starboard Value Acquisition Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.