Glazer Capital LLC recently announced the acquisition of new stake in ABG Acquisition Corp. I (NASDAQ:ABGI). The institutional investor has increased its shareholding in the Financial company by 3.26% to 1.45 million shares with purchase of 45630.0 shares. This fresh investment now brings its stake to 9.29% valued currently at $14.59 million. In addition, Marshall Wace LLP raised its holdings by 0.25 million to 0.68 million shares. And Sculptor Capital LP has lifted its position by 0.09% or 574.0 shares – to 0.64 million shares.
With over 0.28 million ABG Acquisition Corp. I (ABGI) shares trading Tuesday and a closing price of $10.14 on the day, the dollar volume was approximately $2.8 million. The shares have shown a positive half year performance of 3.68% and its price on 01/17/23 gained nearly 0.25%. Currently, there are 19.33M common shares owned by the public and among those 15.06M shares have been available to trade.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in ABG Acquisition Corp. I are First Trust Merger Arbitrage Fund, Blackstone Alternative Multi Stra, and Picton Mahoney Fortified Arbitrag. First Trust Merger Arbitrage Fund owns 0.58 million shares of the company’s stock, all valued at over $5.81 million. The company bought an additional 0.51 million shares recently to bring their total holdings to about 3.70% of the shares outstanding. Picton Mahoney Fortified Arbitrag bought 84400.0 shares to bring its total holdings to over 0.17 million shares at a value of $1.69 million. Picton Mahoney Fortified Arbitrag now owns shares totaling to 1.07% of the shares outstanding.
Shares of ABG Acquisition Corp. I (NASDAQ: ABGI) opened at $10.13, up $0.02 from a prior closing price of $10.11. However, the script later moved the day high at 10.39, up 0.25%. The company’s stock has a 5-day price change of 0.30% and 2.42% over the past three months. ABGI shares are trading 0.50% year to date (YTD), with the 12-month market performance up to 4.32% higher. It has a 12-month low price of $9.70 and touched a high of $10.12 over the same period. ABGI has an average intraday trading volume of 46.68K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.62%, 1.08%, and 2.77% respectively.
Institutional ownership of ABG Acquisition Corp. I (NASDAQ: ABGI) shares accounts for 91.10% of the company’s 19.33M shares outstanding. Mutual fund holders own 76.42%, while other institutional holders and individual stakeholders account for 8.68% and 3.22% respectively.
It has a market capitalization of $196.11M. The earnings-per-share (ttm) stands at -$0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.57% over the week and 0.24% over the month.
