Magnetar Financial LLC Takes $8.04 Million Position in A Paradise Acquisition Corp. $APAD

Magnetar Financial LLC acquired a new stake in A Paradise Acquisition Corp. (NASDAQ:APAD) in the fourth quarter, HoldingsChannel reports. The fund acquired 799,984 shares of the company’s stock, valued at approximately $8,040,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Arax Advisory Partners bought a new position in shares of A Paradise Acquisition in the 4th quarter valued at about $39,000. HRT Financial LP bought a new position in shares of A Paradise Acquisition in the 4th quarter valued at about $249,000. Geode Capital Management LLC bought a new position in shares of A Paradise Acquisition in the 4th quarter valued at about $263,000. Verition Fund Management LLC grew its position in shares of A Paradise Acquisition by 6.3% in the 4th quarter. Verition Fund Management LLC now owns 717,331 shares of the company’s stock valued at $7,209,000 after acquiring an additional 42,331 shares during the period. Finally, First Trust Capital Management L.P. bought a new position in shares of A Paradise Acquisition in the 4th quarter valued at about $502,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of A Paradise Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

A Paradise Acquisition Price Performance

Shares of APAD opened at $8.03 on Wednesday. The company has a 50-day moving average price of $8.99. A Paradise Acquisition Corp. has a one year low of $7.50 and a one year high of $14.00.

A Paradise Acquisition (NASDAQ:APAD) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.08 EPS for the quarter.

About A Paradise Acquisition

A Paradise Acquisition (NASDAQ: APAD) is a special-purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that was formed to raise capital through a public listing with the purpose of effecting a business combination. As a SPAC, it does not operate an ongoing commercial business; instead, its primary activity is to identify, negotiate and complete a merger, share exchange, asset acquisition, recapitalization or other business combination with one or more target companies.

Like other acquisition companies, A Paradise Acquisition’s typical activities include sourcing potential targets, conducting due diligence and arranging the financing structures needed to complete a transaction.