GP-Act III Acquisition (NASDAQ:GPAT) Posts Earnings Results

GP-Act III Acquisition (NASDAQ:GPAT) posted its quarterly earnings data on Thursday. The company reported $0.08 EPS for the quarter, FiscalAI reports.

GP-Act III Acquisition Price Performance

GPAT stock opened at $10.82 on Friday. The stock has a 50-day moving average price of $10.77 and a 200-day moving average price of $10.69. GP-Act III Acquisition has a 1-year low of $10.30 and a 1-year high of $10.83.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On GP-Act III Acquisition

Several large investors have recently added to or reduced their stakes in GPAT. Verition Fund Management LLC lifted its stake in GP-Act III Acquisition by 0.7% in the fourth quarter. Verition Fund Management LLC now owns 229,124 shares of the company’s stock valued at $2,452,000 after buying an additional 1,500 shares during the period. Wellspring Financial Advisors LLC grew its position in shares of GP-Act III Acquisition by 17.8% during the 2nd quarter. Wellspring Financial Advisors LLC now owns 21,200 shares of the company’s stock worth $224,000 after buying an additional 3,200 shares during the period. Cannon Global Investment Management LLC increased its stake in shares of GP-Act III Acquisition by 38.1% in the 4th quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock valued at $155,000 after acquiring an additional 4,000 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of GP-Act III Acquisition in the 3rd quarter valued at $83,000. Finally, Bank of America Corp DE acquired a new position in shares of GP-Act III Acquisition during the 3rd quarter valued at $85,000.

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.