FG Merger II Corp. $FGMC Shares Sold by Clear Street Group Inc.

Clear Street Group Inc. lessened its position in shares of FG Merger II Corp. (NASDAQ:FGMC) by 91.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after selling 504,377 shares during the period. Clear Street Group Inc. owned about 1.92% of FG Merger II worth $502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highbridge Capital Management LLC boosted its holdings in shares of FG Merger II by 163.3% in the 3rd quarter. Highbridge Capital Management LLC now owns 254,607 shares of the company’s stock valued at $2,544,000 after buying an additional 157,902 shares in the last quarter. Berkley W R Corp acquired a new position in shares of FG Merger II in the 3rd quarter valued at $3,158,000. Flow Traders U.S. LLC acquired a new position in shares of FG Merger II in the 2nd quarter valued at $115,000. SkyView Investment Advisors LLC acquired a new position in shares of FG Merger II in the 2nd quarter valued at $789,000. Finally, DLD Asset Management LP boosted its holdings in shares of FG Merger II by 10.7% in the 4th quarter. DLD Asset Management LP now owns 110,725 shares of the company’s stock valued at $1,112,000 after buying an additional 10,725 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on FGMC shares. Weiss Ratings restated a “sell (d)” rating on shares of FG Merger II in a report on Friday, May 29th. Wall Street Zen cut shares of FG Merger II from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

FG Merger II Trading Down 12.0%

Shares of FG Merger II stock opened at $9.20 on Tuesday. The stock has a market cap of $23.92 million, a price-to-earnings ratio of 920.00 and a beta of 0.07. The company has a fifty day simple moving average of $10.23 and a 200-day simple moving average of $10.13. FG Merger II Corp. has a 12-month low of $9.00 and a 12-month high of $11.76.

FG Merger II (NASDAQ:FGMC) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.04 earnings per share for the quarter.

About FG Merger II

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.