Rivernorth Capital Management LLC Sells 60,098 Shares of GP-Act III Acquisition Corp. $GPAT

Rivernorth Capital Management LLC lowered its position in GP-Act III Acquisition Corp. (NASDAQ:GPAT) by 14.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 360,013 shares of the company’s stock after selling 60,098 shares during the period. Rivernorth Capital Management LLC’s holdings in GP-Act III Acquisition were worth $3,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new stake in GP-Act III Acquisition in the third quarter valued at approximately $85,000. Cannon Global Investment Management LLC raised its holdings in shares of 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 valued at $155,000 after purchasing an additional 4,000 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of GP-Act III Acquisition during the 3rd quarter valued at $203,000. Lineage Point Capital LP acquired a new stake in shares of GP-Act III Acquisition in the 4th quarter valued at $695,000. Finally, Shaolin Capital Management LLC bought a new stake in GP-Act III Acquisition in the second quarter worth $1,055,000.

GP-Act III Acquisition Stock Performance

Shares of GP-Act III Acquisition stock opened at $10.91 on Wednesday. The firm has a fifty day simple moving average of $10.96 and a 200-day simple moving average of $10.85. GP-Act III Acquisition Corp. has a 1-year low of $10.50 and a 1-year high of $12.00.

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.

Analyst Upgrades and Downgrades

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

About GP-Act III Acquisition

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.