Sona Asset Management US LLC Invests $2.17 Million in GP-Act III Acquisition Corp. $GPAT

Sona Asset Management US LLC bought a new stake in shares of GP-Act III Acquisition Corp. (NASDAQ:GPAT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 200,000 shares of the company’s stock, valued at approximately $2,168,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GPAT. Bank of America Corp DE purchased a new position in GP-Act III Acquisition during the third quarter worth approximately $85,000. Cannon Global Investment Management LLC increased its position in shares of GP-Act III Acquisition by 38.1% in the fourth quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock valued at $155,000 after buying an additional 4,000 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of GP-Act III Acquisition in the third quarter valued at approximately $203,000. Lineage Point Capital LP acquired a new position in shares of GP-Act III Acquisition during the 4th quarter worth approximately $695,000. Finally, Shaolin Capital Management LLC acquired a new position in shares of GP-Act III Acquisition during the 2nd quarter worth approximately $1,055,000.

GP-Act III Acquisition Stock Performance

GPAT opened at $11.05 on Monday. GP-Act III Acquisition Corp. has a twelve month low of $10.50 and a twelve month high of $12.00. The company has a 50-day moving average price of $10.95 and a 200 day moving average price of $10.85.

GP-Act III Acquisition (NASDAQ:GPAT) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

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

GP-Act III Acquisition Company Profile

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.