300,000 Shares in Lafayette Acquisition Corp. $LAFA Purchased by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC acquired a new position in shares of Lafayette Acquisition Corp. (NASDAQ:LAFA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 300,000 shares of the company’s stock, valued at approximately $2,991,000. Rivernorth Capital Management LLC owned approximately 2.19% of Lafayette Acquisition at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LAFA. AQR Arbitrage LLC purchased a new position in Lafayette Acquisition during the fourth quarter valued at $6,530,000. Polar Asset Management Partners Inc. purchased a new position in shares of Lafayette Acquisition in the 4th quarter worth about $4,950,000. Aristeia Capital L.L.C. bought a new position in Lafayette Acquisition in the 4th quarter worth about $3,960,000. Verition Fund Management LLC purchased a new stake in Lafayette Acquisition during the 4th quarter valued at about $3,628,000. Finally, Sona Asset Management US LLC purchased a new stake in Lafayette Acquisition during the 1st quarter valued at about $3,490,000.

Lafayette Acquisition Stock Performance

Shares of NASDAQ:LAFA opened at $10.11 on Wednesday. Lafayette Acquisition Corp. has a 1 year low of $9.87 and a 1 year high of $10.20. The firm’s fifty day simple moving average is $10.09.

Lafayette Acquisition (NASDAQ:LAFA) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

About Lafayette Acquisition

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.