Verbena Value LP Invests $4.98 Million in EGH Acquisition Corp. $EGHA

Verbena Value LP purchased a new position in EGH Acquisition Corp. (NASDAQ:EGHA) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 487,810 shares of the company’s stock, valued at approximately $4,981,000. EGH Acquisition comprises approximately 0.8% of Verbena Value LP’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors also recently bought and sold shares of the company. Magnetar Financial LLC purchased a new position in shares of EGH Acquisition in the fourth quarter valued at approximately $6,084,000. Radcliffe Capital Management L.P. raised its stake in EGH Acquisition by 9.1% in the 4th quarter. Radcliffe Capital Management L.P. now owns 522,737 shares of the company’s stock valued at $5,295,000 after purchasing an additional 43,765 shares during the last quarter. Rivernorth Capital Management LLC lifted its holdings in EGH Acquisition by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock valued at $4,027,000 after purchasing an additional 100,000 shares in the last quarter. Westchester Capital Management LLC lifted its holdings in EGH Acquisition by 30.0% in the 4th quarter. Westchester Capital Management LLC now owns 325,000 shares of the company’s stock valued at $3,295,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Clear Street Group Inc. boosted its stake in EGH Acquisition by 4,341.2% during the 4th quarter. Clear Street Group Inc. now owns 264,473 shares of the company’s stock worth $2,679,000 after purchasing an additional 258,518 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of EGH Acquisition in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

EGH Acquisition Stock Up 0.0%

EGH Acquisition stock opened at $10.34 on Monday. EGH Acquisition Corp. has a 12-month low of $9.31 and a 12-month high of $10.80. The stock’s 50-day moving average price is $10.31.

EGH Acquisition Company Profile

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.