Cartesian Growth Corp III (NASDAQ:CGCT) Announces Earnings Results

Cartesian Growth Corp III (NASDAQ:CGCT) posted its quarterly earnings data on Friday. The company reported $0.05 earnings per share (EPS) for the quarter, Zacks reports.

Cartesian Growth Corp III Stock Performance

NASDAQ:CGCT opened at $10.38 on Friday. The firm has a market capitalization of $358.11 million and a P/E ratio of 43.25. The company has a fifty day moving average of $10.30. Cartesian Growth Corp III has a one year low of $10.00 and a one year high of $10.44.

Analyst Ratings Changes

Separately, Weiss Ratings assumed coverage on shares of Cartesian Growth Corp III in a report on Monday, January 26th. They issued a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, Cartesian Growth Corp III currently has an average rating of “Sell”.

Institutional Investors Weigh In On Cartesian Growth Corp III

Institutional investors have recently modified their holdings of the business. Fort Baker Capital Management LP acquired a new position in shares of Cartesian Growth Corp III in the 4th quarter valued at approximately $26,037,000. Cantor Fitzgerald L. P. bought a new position in shares of Cartesian Growth Corp III in the fourth quarter worth about $7,300,000. Harraden Circle Investments LLC bought a new position in shares of Cartesian Growth Corp III in the fourth quarter worth about $3,124,000. Rivernorth Capital Management LLC lifted its holdings in shares of Cartesian Growth Corp III by 23.1% in the fourth quarter. Rivernorth Capital Management LLC now owns 133,142 shares of the company’s stock worth $1,371,000 after acquiring an additional 24,999 shares during the last quarter. Finally, Marex Group plc bought a new position in shares of Cartesian Growth Corp III in the fourth quarter worth about $309,000.

Cartesian Growth Corp III Company Profile

Cartesian Growth Corp III (NASDAQ: CGCT) is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company, that is listed on the Nasdaq stock exchange. As a SPAC, Cartesian Growth Corp III was formed to raise capital through an initial public offering with the objective of identifying, negotiating and completing one or more business combinations or acquisitions. The company itself does not operate an ongoing commercial business prior to completing a business combination.

The company’s principal activities center on sourcing potential acquisition targets, conducting due diligence, arranging transaction financing and completing a business combination that would result in an operating public company.