L1 Global Manager Pty Ltd Acquires New Holdings in Mountain Lake Acquisition Corp. $MLAC

L1 Global Manager Pty Ltd acquired a new stake in Mountain Lake Acquisition Corp. (NASDAQ:MLAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 170,000 shares of the company’s stock, valued at approximately $1,768,000. Mountain Lake Acquisition comprises about 1.2% of L1 Global Manager Pty Ltd’s investment portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLAC. Goldman Sachs Group Inc. bought a new position in shares of Mountain Lake Acquisition during the first quarter valued at $4,483,000. Moore Capital Management LP bought a new stake in shares of Mountain Lake Acquisition in the second quarter worth $2,052,000. UBS Group AG grew its stake in shares of Mountain Lake Acquisition by 1,523.6% in the fourth quarter. UBS Group AG now owns 209,288 shares of the company’s stock worth $2,177,000 after purchasing an additional 196,398 shares during the last quarter. Radcliffe Capital Management L.P. bought a new stake in shares of Mountain Lake Acquisition in the second quarter worth $994,000. Finally, Clear Street Group Inc. acquired a new stake in Mountain Lake Acquisition in the third quarter valued at $40,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mountain Lake Acquisition in a report on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Mountain Lake Acquisition Price Performance

MLAC opened at $3.12 on Friday. Mountain Lake Acquisition Corp. has a 1-year low of $2.70 and a 1-year high of $10.69. The company has a fifty day moving average price of $9.83 and a two-hundred day moving average price of $10.23.

Mountain Lake Acquisition (NASDAQ:MLAC) last posted its earnings results on Friday, May 15th. The company reported $0.06 EPS for the quarter.

Mountain Lake Acquisition Profile

Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries. The company was formerly known as Bilbao Street Limited and changed its name to Malacca Straits Acquisition Company Limited in February 2020. Malacca Straits Acquisition Company Limited was incorporated in 2019 and is based in Central, Hong Kong.