L1 Global Manager Pty Ltd Makes New $6.07 Million Investment in GP-Act III Acquisition Corp. $GPAT

L1 Global Manager Pty Ltd bought a new position in shares of GP-Act III Acquisition Corp. (NASDAQ:GPAT) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 567,566 shares of the company’s stock, valued at approximately $6,067,000. GP-Act III Acquisition accounts for about 4.0% of L1 Global Manager Pty Ltd’s investment portfolio, making the stock its 4th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cannon Global Investment Management LLC increased 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 during the period. Verition Fund Management LLC increased its position in GP-Act III Acquisition by 2.2% during the 3rd quarter. Verition Fund Management LLC now owns 227,624 shares of the company’s stock worth $2,413,000 after purchasing an additional 4,974 shares during the period. Linden Advisors LP acquired a new position in GP-Act III Acquisition during the 3rd quarter worth approximately $8,454,000. Clear Street Group Inc. acquired a new position in GP-Act III Acquisition during the 3rd quarter worth approximately $109,000. Finally, Bank of America Corp DE acquired a new position in GP-Act III Acquisition during the 3rd quarter worth approximately $85,000.

GP-Act III Acquisition Stock Up 0.1%

GPAT stock opened at $10.84 on Friday. GP-Act III Acquisition Corp. has a 1 year low of $10.42 and a 1 year high of $12.00. The stock’s 50 day moving average price is $10.88 and its 200 day moving average price is $10.78.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GP-Act III Acquisition currently has a consensus rating of “Sell”.

GP-Act III Acquisition Company 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.