432,502 Shares in Starboard Value Acquisition Corp. $SVAC Purchased by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC acquired a new position in shares of Starboard Value Acquisition Corp. (NASDAQ:SVAC) during the first quarter, HoldingsChannel reports. The fund acquired 432,502 shares of the company’s stock, valued at approximately $4,394,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SVAC. Clear Street Group Inc. acquired a new position in shares of Starboard Value Acquisition during the fourth quarter worth approximately $73,000. Virtu Financial LLC acquired a new stake in shares of Starboard Value Acquisition in the fourth quarter valued at approximately $186,000. Cannon Global Investment Management LLC acquired a new stake in shares of Starboard Value Acquisition in the first quarter valued at approximately $279,000. Boothbay Fund Management LLC bought a new position in Starboard Value Acquisition in the 4th quarter worth approximately $445,000. Finally, HighTower Advisors LLC bought a new position in Starboard Value Acquisition in the 4th quarter worth approximately $684,000.

Starboard Value Acquisition Price Performance

Shares of SVAC stock opened at $9.12 on Wednesday. The firm’s 50 day moving average price is $9.96 and its two-hundred day moving average price is $10.25. Starboard Value Acquisition Corp. has a 52-week low of $7.35 and a 52-week high of $12.00.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Starboard Value Acquisition has a consensus rating of “Sell”.

About Starboard Value Acquisition

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.