Great Lakes Advisors LLC Makes New $24.11 Million Investment in Research Alliance Corporation III $RACC

Great Lakes Advisors LLC acquired a new stake in Research Alliance Corporation III (NASDAQ:RACC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 264,398 shares of the company’s stock, valued at approximately $24,110,000. Great Lakes Advisors LLC owned 2.91% of Research Alliance Corporation III at the end of the most recent quarter.

Research Alliance Corporation III Stock Down 8.3%

RACC stock opened at $24.49 on Wednesday. The company’s fifty day simple moving average is $15.07. Research Alliance Corporation III has a fifty-two week low of $10.21 and a fifty-two week high of $33.50.

Research Alliance Corporation III (NASDAQ:RACC) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.01 EPS for the quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on RACC shares. Wall Street Zen raised Research Alliance Corporation III to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings started coverage on Research Alliance Corporation III in a research note on Friday. They set a “sell (e)” rating for the company. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Research Alliance Corporation III

Research Alliance Corporation III is a blank check company. It formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Research Alliance Corporation III is based in New York.