FG Merger II Corp. $FGMC Shares Purchased by Highbridge Capital Management LLC

Highbridge Capital Management LLC raised its stake in FG Merger II Corp. (NASDAQ:FGMC) by 163.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,607 shares of the company’s stock after acquiring an additional 157,902 shares during the period. Highbridge Capital Management LLC owned 0.10% of FG Merger II worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Flow Traders U.S. LLC acquired a new stake in shares of FG Merger II during the second quarter worth about $115,000. Crossingbridge Advisors LLC purchased a new stake in FG Merger II during the 2nd quarter valued at approximately $242,000. Wolverine Asset Management LLC acquired a new stake in FG Merger II during the 2nd quarter worth approximately $277,000. SkyView Investment Advisors LLC acquired a new stake in FG Merger II during the 2nd quarter worth approximately $789,000. Finally, Bluefin Capital Management LLC purchased a new position in shares of FG Merger II in the 2nd quarter valued at approximately $1,167,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Merger II in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

FG Merger II Stock Performance

FGMC stock opened at $10.07 on Friday. The company’s 50-day moving average price is $10.06 and its 200 day moving average price is $10.02. FG Merger II Corp. has a 52 week low of $9.53 and a 52 week high of $10.25. The company has a market cap of $26.18 million and a P/E ratio of 1,007.00.

About FG Merger II

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.