Insider Selling: AlphaVest Acquisition (NASDAQ:ATMV) Major Shareholder Sells 82,002 Shares of Stock

AlphaVest Acquisition Corp. (NASDAQ:ATMV) major shareholder Harraden Circle Investments, L sold 82,002 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $13.86, for a total value of $1,136,547.72. Following the completion of the sale, the insider directly owned 463,547 shares in the company, valued at approximately $6,424,761.42. This trade represents a 15.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Harraden Circle Investments, L also recently made the following trade(s):

• On Tuesday, December 9th, Harraden Circle Investments, L sold 133,722 shares of AlphaVest Acquisition stock. The stock was sold at an average price of $14.27, for a total transaction of $1,908,212.94.
• On Friday, December 5th, Harraden Circle Investments, L sold 4,451 shares of AlphaVest Acquisition stock. The shares were sold at an average price of $8.90, for a total transaction of $39,613.90.

AlphaVest Acquisition Price Performance

NASDAQ ATMV traded up $2.46 on Tuesday, hitting $10.30. 12,607,150 shares of the company were exchanged, compared to its average volume of 183,685. AlphaVest Acquisition Corp. has a twelve month low of $5.43 and a twelve month high of $42.00. The company’s 50 day moving average price is $8.94 and its 200-day moving average price is $11.24.

AlphaVest Acquisition (NASDAQ:ATMV) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($0.73) earnings per share for the quarter. The firm had revenue of $0.17 million for the quarter.

Institutional Trading of AlphaVest Acquisition

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of AlphaVest Acquisition during the 1st quarter worth approximately $568,000. Clear Street LLC increased its holdings in shares of AlphaVest Acquisition by 96.1% in the 2nd quarter. Clear Street LLC now owns 21,671 shares of the company’s stock worth $255,000 after buying an additional 10,620 shares during the last quarter. Berkley W R Corp boosted its stake in AlphaVest Acquisition by 23.7% in the second quarter. Berkley W R Corp now owns 233,745 shares of the company’s stock worth $2,749,000 after buying an additional 44,730 shares in the last quarter. Harraden Circle Investments LLC bought a new stake in shares of AlphaVest Acquisition in the 3rd quarter valued at about $762,000. Finally, Clear Street Group Inc. bought a new stake in AlphaVest Acquisition in the 3rd quarter worth $1,842,000. Institutional investors and hedge funds own 46.08% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AlphaVest Acquisition in a research note on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, AlphaVest Acquisition has an average rating of “Sell”.

About AlphaVest Acquisition

AlphaVest Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2022 and is based in New York, New York.