L1 Global Manager Pty Ltd Acquires New Stake in Melar Acquisition Corp. I $MACI

L1 Global Manager Pty Ltd acquired a new stake in shares of Melar Acquisition Corp. I (NASDAQ:MACI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 335,000 shares of the company’s stock, valued at approximately $3,561,000. Melar Acquisition Corp. I accounts for 2.4% of L1 Global Manager Pty Ltd’s portfolio, making the stock its 6th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Wolverine Asset Management LLC increased its stake in shares of Melar Acquisition Corp. I by 11.1% during the fourth quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock valued at $10,935,000 after acquiring an additional 102,361 shares during the period. Berkley W R Corp increased its stake in shares of Melar Acquisition Corp. I by 99.7% during the third quarter. Berkley W R Corp now owns 645,820 shares of the company’s stock valued at $6,781,000 after acquiring an additional 322,372 shares during the period. Radcliffe Capital Management L.P. increased its stake in shares of Melar Acquisition Corp. I by 45.0% during the third quarter. Radcliffe Capital Management L.P. now owns 426,939 shares of the company’s stock valued at $4,483,000 after acquiring an additional 132,564 shares during the period. BCK Capital Management LP increased its stake in shares of Melar Acquisition Corp. I by 37.7% during the third quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after acquiring an additional 18,874 shares during the period. Finally, Sandia Investment Management LP acquired a new position in shares of Melar Acquisition Corp. I during the third quarter valued at approximately $249,000.

Melar Acquisition Corp. I Trading Up 1.4%

NASDAQ MACI opened at $10.94 on Friday. Melar Acquisition Corp. I has a 12 month low of $10.43 and a 12 month high of $11.38. The company’s 50 day simple moving average is $10.84 and its 200 day simple moving average is $10.73.

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

Wall Street Analysts Forecast Growth

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

Melar Acquisition Corp. I Profile

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.