Lineage Point Capital LP Trims Stock Holdings in Blue Acquisition Corp/Cayman $BACC

Lineage Point Capital LP decreased its position in Blue Acquisition Corp/Cayman (NASDAQ:BACC) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 382,773 shares of the company’s stock after selling 48,578 shares during the quarter. Lineage Point Capital LP owned approximately 1.37% of Blue Acquisition Corp/Cayman worth $4,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sona Asset Management US LLC grew its position in shares of Blue Acquisition Corp/Cayman by 70.5% in the 1st quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock worth $34,125,000 after buying an additional 1,382,174 shares during the period. Berkley W R Corp lifted its position in Blue Acquisition Corp/Cayman by 40.6% during the 1st quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock valued at $4,509,000 after acquiring an additional 127,428 shares during the period. Stoic Point Capital Management LLC bought a new stake in Blue Acquisition Corp/Cayman during the fourth quarter worth about $255,000. TENOR CAPITAL MANAGEMENT Co. L.P. grew its holdings in Blue Acquisition Corp/Cayman by 9.8% in the fourth quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,317,152 shares of the company’s stock worth $13,448,000 after purchasing an additional 117,152 shares during the period. Finally, Toronto Dominion Bank grew its holdings in Blue Acquisition Corp/Cayman by 2.1% in the fourth quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock worth $3,068,000 after purchasing an additional 6,100 shares during the period.

Blue Acquisition Corp/Cayman Stock Up 0.1%

Shares of Blue Acquisition Corp/Cayman stock opened at $10.51 on Friday. The company has a 50-day simple moving average of $10.58 and a two-hundred day simple moving average of $10.40. Blue Acquisition Corp/Cayman has a 52-week low of $9.96 and a 52-week high of $11.10.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Blue Acquisition Corp/Cayman to a “hold” rating in a report on Saturday, July 25th. Odeon Capital Group upgraded Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Profile

Blue Acquisition Corp/Cayman (NASDAQ: BACC) is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company. As a blank-check vehicle, its primary business activity is to raise capital through its public listing and use those proceeds to identify, negotiate and complete a merger, acquisition, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses.

Like other SPACs, Blue Acquisition typically holds the funds raised in trust pending the completion of a qualifying business combination and provides public investors with the opportunity to vote on proposed transactions and to seek redemption of their shares in accordance with the company’s governing documents.