AQR Arbitrage LLC Takes $3.70 Million Position in Pelican Acquisition Corporation $PELI

AQR Arbitrage LLC acquired a new position in shares of Pelican Acquisition Corporation (NASDAQ:PELI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 370,000 shares of the company’s stock, valued at approximately $3,700,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PELI. Wolverine Asset Management LLC acquired a new position in Pelican Acquisition during the 2nd quarter worth approximately $4,541,000. Clear Street LLC acquired a new stake in Pelican Acquisition in the second quarter valued at approximately $4,295,000. Karpus Management Inc. bought a new stake in shares of Pelican Acquisition during the second quarter valued at approximately $3,513,000. Shaolin Capital Management LLC acquired a new position in shares of Pelican Acquisition during the second quarter worth approximately $2,758,000. Finally, Magnetar Financial LLC acquired a new position in shares of Pelican Acquisition during the second quarter worth approximately $1,951,000.

Pelican Acquisition Stock Up 0.1%

NASDAQ PELI opened at $10.16 on Friday. The company has a fifty day moving average of $10.12. Pelican Acquisition Corporation has a 12 month low of $8.98 and a 12 month high of $10.19.

Pelican Acquisition (NASDAQ:PELI) last posted its earnings results on Monday, September 15th. The company reported $0.03 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Pelican Acquisition in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

About Pelican Acquisition

We are a newly formed blank check company incorporated as a Cayman Islands exempted company on July 23, 2024 under the laws of the Cayman Islands with limited liability, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination.