TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of New Beginnings Acquisition Corp. (NYSE:NBA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 430,234 shares of the company’s stock, valued at approximately $4,302,000. TENOR CAPITAL MANAGEMENT Co. L.P. owned 2.88% of New Beginnings Acquisition as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in NBA. Arrowstreet Capital Limited Partnership bought a new position in shares of New Beginnings Acquisition during the 1st quarter worth $176,000. Radcliffe Capital Management L.P. bought a new stake in New Beginnings Acquisition during the fourth quarter valued at about $202,000. Schonfeld Strategic Advisors LLC bought a new stake in New Beginnings Acquisition during the first quarter valued at about $238,000. Sanders Morris Harris LLC bought a new stake in New Beginnings Acquisition during the first quarter valued at about $407,000. Finally, HRT Financial LP purchased a new position in shares of New Beginnings Acquisition in the first quarter worth about $492,000. Institutional investors and hedge funds own 52.97% of the company’s stock.
In other news, CEO Michael Liebowitz purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 19th. The stock was bought at an average cost of $10.01 per share, for a total transaction of $100,100.00.
NBA has been the topic of a number of research analyst reports. Northland Securities began coverage on New Beginnings Acquisition in a research note on Wednesday, June 16th. They issued an “outperform” rating on the stock. DA Davidson initiated coverage on New Beginnings Acquisition in a report on Wednesday, June 9th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Barrington Research assumed coverage on New Beginnings Acquisition in a report on Thursday, April 8th. They issued an “outperform” rating and a $15.00 price objective on the stock.
About New Beginnings Acquisition
New Beginnings Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Miami, Florida.
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