IG Acquisition Corp. $IGAC Shares Newly Bought by Wealthspring Capital LLC

Wealthspring Capital LLC purchased a new position in shares of IG Acquisition Corp. (NASDAQ:IGAC) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 218,386 shares of the company’s stock, valued at approximately $2,201,000.

Other institutional investors have also added to or reduced their stakes in the company. Rivernorth Capital Management LLC bought a new stake in IG Acquisition in the 1st quarter worth about $5,062,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of IG Acquisition during the 1st quarter worth approximately $4,970,000. Polar Asset Management Partners Inc. bought a new position in shares of IG Acquisition during the 1st quarter worth approximately $2,474,000. Sona Asset Management US LLC purchased a new position in shares of IG Acquisition in the 1st quarter worth approximately $1,297,000. Finally, DLD Asset Management LP purchased a new position in shares of IG Acquisition in the 1st quarter worth approximately $1,238,000. 38.82% of the stock is owned by institutional investors.

IG Acquisition Stock Performance

Shares of NASDAQ:IGAC opened at $10.13 on Monday. The business has a fifty day moving average price of $10.11 and a two-hundred day moving average price of $10.01. IG Acquisition Corp. has a 1 year low of $9.82 and a 1 year high of $10.16.

IG Acquisition (NASDAQ:IGAC) last released its earnings results on Friday, August 7th. The company reported $0.05 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised IG Acquisition from a “sell (e)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.

IG Acquisition Profile

IG Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with an operating business. Unlike a traditional operating company, it did not develop or sell products and services of its own; its principal activity was pursuing a business combination with a private company.

The company focused its search on opportunities in sectors such as technology, media, entertainment and gaming. IG Acquisition announced a proposed combination with PlayUp Limited, an online sports betting and gaming business, but the transaction was not completed.