Periscope Capital Inc. Sells 51,800 Shares of Melar Acquisition Corp. I $MACI

Periscope Capital Inc. decreased its position in Melar Acquisition Corp. I (NASDAQ:MACI) by 22.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 183,612 shares of the company’s stock after selling 51,800 shares during the quarter. Periscope Capital Inc.’s holdings in Melar Acquisition Corp. I were worth $1,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. BCK Capital Management LP grew its stake in shares of Melar Acquisition Corp. I by 37.7% in the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock worth $723,000 after acquiring an additional 18,874 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of Melar Acquisition Corp. I in the 4th quarter worth $213,000. Sandia Investment Management LP bought a new stake in shares of Melar Acquisition Corp. I in the 3rd quarter worth $249,000. Quarry LP bought a new stake in shares of Melar Acquisition Corp. I in the 3rd quarter worth $249,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Melar Acquisition Corp. I by 11.1% in the 4th quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after acquiring an additional 102,361 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Melar Acquisition Corp. I Stock Performance

MACI opened at $10.83 on Friday. Melar Acquisition Corp. I has a fifty-two week low of $10.37 and a fifty-two week high of $11.38. The firm has a 50-day moving average of $10.82 and a 200 day moving average of $10.71.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its earnings results on Thursday, May 14th. The company reported $0.04 earnings per share for the quarter.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.