FG Merger II Corp. $FGMC Shares Sold by Periscope Capital Inc.

Periscope Capital Inc. trimmed its stake in shares of FG Merger II Corp. (NASDAQ:FGMC – Free Report) by 18.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,000 shares of the company’s stock after selling 52,100 shares during the quarter. Periscope Capital Inc. owned 8.88% of FG Merger II worth $2,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Flow Traders U.S. LLC acquired a new position in FG Merger II during the 2nd quarter worth $115,000. SkyView Investment Advisors LLC acquired a new position in FG Merger II during the 2nd quarter worth $789,000. Quarry LP grew its stake in FG Merger II by 128.8% during the 3rd quarter. Quarry LP now owns 177,635 shares of the company’s stock worth $1,775,000 after purchasing an additional 100,000 shares in the last quarter. Highbridge Capital Management LLC grew its stake in FG Merger II by 163.3% during the 3rd quarter. Highbridge Capital Management LLC now owns 254,607 shares of the company’s stock worth $2,544,000 after purchasing an additional 157,902 shares in the last quarter. Finally, Berkley W R Corp acquired a new position in FG Merger II during the 3rd quarter worth $3,158,000.

Analysts Set New Price Targets

Separately, Wall Street Zen cut FG Merger II from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Read Our Latest Stock Report on FG Merger II

FG Merger II Price Performance

Shares of NASDAQ FGMC opened at $10.37 on Friday. The company has a market capitalization of $26.92 million, a price-to-earnings ratio of 1,037.00 and a beta of 0.04. The business has a 50-day moving average of $10.19 and a two-hundred day moving average of $10.10. FG Merger II Corp. has a 1 year low of $9.73 and a 1 year high of $10.39.

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

FG Merger II Company Profile

(Free Report)

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.

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