Select Equity Group L.P. Makes New $282,000 Investment in Fortress Value Acquisition Corp. II (NYSE:FAII)

Select Equity Group L.P. acquired a new position in Fortress Value Acquisition Corp. II (NYSE:FAII) during the first quarter, HoldingsChannel reports. The institutional investor acquired 28,324 shares of the company’s stock, valued at approximately $282,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FAII. Lakewood Capital Management LP purchased a new stake in Fortress Value Acquisition Corp. II in the first quarter worth about $21,401,000. Weiss Asset Management LP grew its stake in shares of Fortress Value Acquisition Corp. II by 142.0% in the first quarter. Weiss Asset Management LP now owns 2,419,579 shares of the company’s stock worth $24,123,000 after acquiring an additional 1,419,579 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Fortress Value Acquisition Corp. II in the first quarter worth $7,478,000. Lazard Asset Management LLC purchased a new stake in shares of Fortress Value Acquisition Corp. II in the first quarter worth $5,863,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Fortress Value Acquisition Corp. II in the first quarter worth $1,428,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

In other Fortress Value Acquisition Corp. II news, major shareholder Acquisition Sponsor I. Fortress acquired 7,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 16th. The shares were bought at an average cost of $10.00 per share, with a total value of $75,000,000.00. Following the completion of the transaction, the insider now directly owns 8,525,000 shares of the company’s stock, valued at approximately $85,250,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Fortress Value Acquisition Corp. II stock traded up $0.01 during trading on Thursday, hitting $7.72. 644,490 shares of the company’s stock traded hands, compared to its average volume of 845,837. Fortress Value Acquisition Corp. II has a 1 year low of $9.01 and a 1 year high of $13.05. The stock has a 50-day simple moving average of $9.43.

A number of equities research analysts have recently commented on the stock. Barrington Research assumed coverage on shares of Fortress Value Acquisition Corp. II in a report on Wednesday, June 9th. They set an “outperform” rating and a $14.00 price target on the stock. Benchmark assumed coverage on shares of Fortress Value Acquisition Corp. II in a report on Tuesday, May 4th. They set a “buy” rating and a $14.00 price target on the stock.

Fortress Value Acquisition Corp. II Profile

Fortress Value Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.

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Want to see what other hedge funds are holding FAII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortress Value Acquisition Corp. II (NYSE:FAII).

Institutional Ownership by Quarter for Fortress Value Acquisition Corp. II (NYSE:FAII)

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