L1 Global Manager Pty Ltd Invests $1.77 Million in Mountain Lake Acquisition Corp. $MLAC

L1 Global Manager Pty Ltd purchased a new position in shares of Mountain Lake Acquisition Corp. (NASDAQ:MLAC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 170,000 shares of the company’s stock, valued at approximately $1,768,000. Mountain Lake Acquisition accounts for about 1.2% of L1 Global Manager Pty Ltd’s portfolio, making the stock its 24th largest position. L1 Global Manager Pty Ltd owned approximately 0.60% of Mountain Lake Acquisition as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Street Group Inc. bought a new stake in shares of Mountain Lake Acquisition during the 3rd quarter worth approximately $40,000. Radcliffe Capital Management L.P. lifted its holdings in shares of Mountain Lake Acquisition by 99.3% during the 3rd quarter. Radcliffe Capital Management L.P. now owns 193,057 shares of the company’s stock worth $1,993,000 after acquiring an additional 96,203 shares during the period. UBS Group AG lifted its holdings in shares of Mountain Lake Acquisition by 1,523.6% during the 4th quarter. UBS Group AG now owns 209,288 shares of the company’s stock worth $2,177,000 after acquiring an additional 196,398 shares during the period. Moore Capital Management LP bought a new stake in shares of Mountain Lake Acquisition during the 2nd quarter worth approximately $2,052,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Mountain Lake Acquisition during the 1st quarter worth approximately $4,483,000.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mountain Lake Acquisition in a report on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Mountain Lake Acquisition Price Performance

Shares of NASDAQ:MLAC opened at $3.12 on Friday. The firm has a 50 day simple moving average of $9.83 and a 200 day simple moving average of $10.23. Mountain Lake Acquisition Corp. has a one year low of $2.70 and a one year high of $10.69.

Mountain Lake Acquisition (NASDAQ:MLAC) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.06 EPS for the quarter.

About Mountain Lake Acquisition

Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries. The company was formerly known as Bilbao Street Limited and changed its name to Malacca Straits Acquisition Company Limited in February 2020. Malacca Straits Acquisition Company Limited was incorporated in 2019 and is based in Central, Hong Kong.