Wealthspring Capital LLC Makes New Investment in IG Acquisition Corp. $IGAC

Wealthspring Capital LLC bought a new stake in shares of IG Acquisition Corp. (NASDAQ:IGAC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 218,386 shares of the company’s stock, valued at approximately $2,201,000. Wealthspring Capital LLC owned 2.18% of IG Acquisition as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IGAC. Rivernorth Capital Management LLC acquired a new stake in shares of IG Acquisition in the 1st quarter valued at about $5,062,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in IG Acquisition during the 1st quarter worth approximately $4,970,000. Sona Asset Management US LLC acquired a new position in IG Acquisition during the 1st quarter worth approximately $1,297,000. Polar Asset Management Partners Inc. bought a new position in IG Acquisition in the first quarter worth approximately $2,474,000. Finally, DLD Asset Management LP bought a new position in IG Acquisition in the first quarter worth approximately $1,238,000. 38.82% of the stock is owned by institutional investors.

IG Acquisition Stock Performance

IGAC stock opened at $10.13 on Monday. IG Acquisition Corp. has a twelve month low of $9.82 and a twelve month high of $10.16. The stock’s 50 day moving average is $10.11 and its 200-day moving average is $10.01.

IG Acquisition (NASDAQ:IGAC) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised IG Acquisition from a “sell (e)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, IG Acquisition currently has a consensus rating of “Sell”.

About IG Acquisition

IG Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with an operating business. Unlike a traditional operating company, it did not develop or sell products and services of its own; its principal activity was pursuing a business combination with a private company.

The company focused its search on opportunities in sectors such as technology, media, entertainment and gaming. IG Acquisition announced a proposed combination with PlayUp Limited, an online sports betting and gaming business, but the transaction was not completed.