K2 Principal Fund L.P. Takes Position in Cartesian Growth Corp III $CGCT

K2 Principal Fund L.P. bought a new stake in shares of Cartesian Growth Corp III (NASDAQ:CGCT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 250,000 shares of the company’s stock, valued at approximately $2,575,000.

Other hedge funds also recently added to or reduced their stakes in the company. Marex Group plc purchased a new position in Cartesian Growth Corp III in the 4th quarter worth approximately $309,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Cartesian Growth Corp III in the 4th quarter worth approximately $1,030,000. L1 Global Manager Pty Ltd purchased a new position in Cartesian Growth Corp III in the 4th quarter worth approximately $2,059,000. UBS Group AG raised its holdings in Cartesian Growth Corp III by 264.9% in the 4th quarter. UBS Group AG now owns 215,841 shares of the company’s stock worth $2,222,000 after acquiring an additional 156,697 shares during the last quarter. Finally, Harraden Circle Investments LLC purchased a new position in Cartesian Growth Corp III in the 4th quarter worth approximately $3,124,000.

Cartesian Growth Corp III Stock Performance

Shares of NASDAQ CGCT opened at $15.33 on Friday. Cartesian Growth Corp III has a twelve month low of $9.26 and a twelve month high of $15.30. The stock has a market cap of $528.89 million and a price-to-earnings ratio of 63.88. The stock has a 50 day moving average price of $11.25.

Cartesian Growth Corp III (NASDAQ:CGCT) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $2.49 million during the quarter.

Cartesian Growth Corp III Profile

Cartesian Growth Corp III (NASDAQ: CGCT) is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company, that is listed on the Nasdaq stock exchange. As a SPAC, Cartesian Growth Corp III was formed to raise capital through an initial public offering with the objective of identifying, negotiating and completing one or more business combinations or acquisitions. The company itself does not operate an ongoing commercial business prior to completing a business combination.

The company’s principal activities center on sourcing potential acquisition targets, conducting due diligence, arranging transaction financing and completing a business combination that would result in an operating public company.