Yakira Capital Management Inc. Acquires New Position in GigInternational1, Inc. $GIW

Yakira Capital Management Inc. acquired a new stake in GigInternational1, Inc. (NASDAQ:GIW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 948,000 shares of the company’s stock, valued at approximately $9,376,000. GigInternational1 makes up 3.2% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Yakira Capital Management Inc. owned approximately 3.50% of GigInternational1 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Glazer Capital LLC acquired a new position in GigInternational1 during the 4th quarter worth approximately $21,514,000. Berkley W R Corp acquired a new position in GigInternational1 during the 4th quarter worth approximately $12,753,000. Westchester Capital Management LLC acquired a new position in GigInternational1 during the 4th quarter worth approximately $10,681,000. BNP Paribas Financial Markets acquired a new position in GigInternational1 during the 4th quarter worth approximately $4,779,000. Finally, Picton Mahoney Asset Management acquired a new position in GigInternational1 during the 4th quarter worth approximately $4,205,000. Institutional investors and hedge funds own 14.01% of the company’s stock.

GigInternational1 Stock Performance

Shares of GigInternational1 stock opened at $10.06 on Monday. The company has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $9.97. GigInternational1, Inc. has a 12-month low of $9.87 and a 12-month high of $10.09.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About GigInternational1

GigInternational1, Inc, does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus its search on companies in the technology, media, telecommunications, aerospace and defense, and mobility and semiconductor industries. The company was incorporated in 2021 and is based in Palo Alto, California.