Periscope Capital Inc. Cuts Stake in A Paradise Acquisition Corp. $APAD

Periscope Capital Inc. reduced its stake in A Paradise Acquisition Corp. (NASDAQ:APAD) by 29.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,979 shares of the company’s stock after selling 102,021 shares during the period. Periscope Capital Inc.’s holdings in A Paradise Acquisition were worth $2,492,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its position in A Paradise Acquisition by 23.9% in the 4th quarter. Wolverine Asset Management LLC now owns 719,819 shares of the company’s stock valued at $7,234,000 after acquiring an additional 138,819 shares in the last quarter. Wealthspring Capital LLC bought a new stake in shares of A Paradise Acquisition in the 4th quarter worth $6,911,000. Finally, Geode Capital Management LLC bought a new stake in shares of A Paradise Acquisition in the 4th quarter worth $263,000.

A Paradise Acquisition Stock Performance

A Paradise Acquisition stock opened at $8.03 on Friday. A Paradise Acquisition Corp. has a one year low of $7.50 and a one year high of $14.00. The firm’s fifty day simple moving average is $9.50.

A Paradise Acquisition (NASDAQ:APAD) last released its quarterly earnings data on Monday, May 4th. The company reported $0.08 EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised A Paradise Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About A Paradise Acquisition

A Paradise Acquisition (NASDAQ: APAD) is a special-purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that was formed to raise capital through a public listing with the purpose of effecting a business combination. As a SPAC, it does not operate an ongoing commercial business; instead, its primary activity is to identify, negotiate and complete a merger, share exchange, asset acquisition, recapitalization or other business combination with one or more target companies.

Like other acquisition companies, A Paradise Acquisition’s typical activities include sourcing potential targets, conducting due diligence and arranging the financing structures needed to complete a transaction.