Marquee Raine Acquisition (NASDAQ:MRAC) Trading 16.4% Higher

Marquee Raine Acquisition Corp. (NASDAQ:MRAC) traded up 16.4% on Tuesday . The company traded as high as $12.04 and last traded at $11.27. 9,619 shares changed hands during trading, a decline of 98% from the average session volume of 623,976 shares. The stock had previously closed at $9.68.

A number of equities analysts have weighed in on the company. Loop Capital assumed coverage on Marquee Raine Acquisition in a research note on Tuesday, July 13th. They set a “hold” rating and a $11.00 price objective for the company. Zacks Investment Research lowered Marquee Raine Acquisition from a “hold” rating to a “sell” rating in a research note on Friday, September 17th. Finally, Telsey Advisory Group started coverage on Marquee Raine Acquisition in a research report on Friday, July 16th. They set an “outperform” rating and a $14.00 target price on the stock.

The stock has a 50-day moving average price of $9.92 and a 200 day moving average price of $9.90.

Large investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Marquee Raine Acquisition during the 1st quarter valued at about $7,308,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Marquee Raine Acquisition during the 2nd quarter valued at about $4,788,000. Magnetar Financial LLC acquired a new stake in shares of Marquee Raine Acquisition during the 2nd quarter valued at about $4,950,000. Third Point LLC acquired a new stake in Marquee Raine Acquisition in the 1st quarter worth about $13,832,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Marquee Raine Acquisition in the 1st quarter worth about $997,000. Hedge funds and other institutional investors own 60.05% of the company’s stock.

About Marquee Raine Acquisition (NASDAQ:MRAC)

Marquee Raine Acquisition Corp., a blank check company, intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities. The company was founded in 2020 and is based in New York, New York.

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