MMCAP International Inc. SPC Sells 800,000 Shares of GP-Act III Acquisition Corp. $GPAT

MMCAP International Inc. SPC trimmed its position in shares of GP-Act III Acquisition Corp. (NASDAQ:GPAT) by 38.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,275,000 shares of the company’s stock after selling 800,000 shares during the quarter. GP-Act III Acquisition makes up about 1.8% of MMCAP International Inc. SPC’s portfolio, making the stock its 17th biggest position. MMCAP International Inc. SPC’s holdings in GP-Act III Acquisition were worth $13,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC purchased a new position in shares of GP-Act III Acquisition in the 1st quarter valued at about $303,000. Wolverine Asset Management LLC grew its holdings in GP-Act III Acquisition by 3.5% in the first quarter. Wolverine Asset Management LLC now owns 309,050 shares of the company’s stock valued at $3,192,000 after purchasing an additional 10,497 shares during the period. Wealthspring Capital LLC increased its position in shares of GP-Act III Acquisition by 406.1% in the second quarter. Wealthspring Capital LLC now owns 1,059,042 shares of the company’s stock valued at $11,173,000 after buying an additional 849,783 shares in the last quarter. Finally, Westchester Capital Management LLC increased its position in shares of GP-Act III Acquisition by 27.6% in the first quarter. Westchester Capital Management LLC now owns 1,160,852 shares of the company’s stock valued at $11,992,000 after buying an additional 250,852 shares in the last quarter.

GP-Act III Acquisition Stock Performance

Shares of NASDAQ GPAT opened at $10.67 on Friday. GP-Act III Acquisition Corp. has a 1-year low of $10.07 and a 1-year high of $10.71. The stock’s 50-day moving average is $10.62 and its two-hundred day moving average is $10.56.

Wall Street Analysts Forecast Growth

GPAT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of GP-Act III Acquisition to a “hold” rating in a research report on Saturday, July 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GP-Act III Acquisition presently has an average rating of “Sell”.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp. operates as a blank check company, which was created for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on November 23, 2020 and is headquartered in New York, NY.