Alberta Investment Management Corp Purchases New Holdings in Blue Acquisition Corp/Cayman $BACC

Alberta Investment Management Corp purchased a new stake in Blue Acquisition Corp/Cayman (NASDAQ:BACC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 700,000 shares of the company’s stock, valued at approximately $7,147,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Verition Fund Management LLC boosted its holdings in Blue Acquisition Corp/Cayman by 36.4% in the fourth quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock valued at $3,829,000 after purchasing an additional 100,000 shares during the last quarter. MYDA Advisors LLC acquired a new stake in Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $756,000. Finally, HRT Financial LP acquired a new stake in Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $318,000.

Blue Acquisition Corp/Cayman Stock Performance

Shares of Blue Acquisition Corp/Cayman stock opened at $10.47 on Wednesday. The business’s 50 day moving average is $10.36. Blue Acquisition Corp/Cayman has a twelve month low of $9.95 and a twelve month high of $10.50.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.07 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Blue Acquisition Corp/Cayman has a consensus rating of “Sell”.

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.