Saba Capital Management L.P. Cuts Stock Position in Starboard Value Acquisition Corp. $SVAC

Saba Capital Management L.P. lessened its holdings in Starboard Value Acquisition Corp. (NASDAQ:SVAC) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,800 shares of the company’s stock after selling 60,200 shares during the quarter. Saba Capital Management L.P.’s holdings in Starboard Value Acquisition were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Clear Street Group Inc. purchased a new stake in Starboard Value Acquisition in the fourth quarter worth $73,000. Virtu Financial LLC bought a new position in Starboard Value Acquisition during the fourth quarter worth about $186,000. Cannon Global Investment Management LLC bought a new position in Starboard Value Acquisition during the first quarter worth about $279,000. Boothbay Fund Management LLC purchased a new position in shares of Starboard Value Acquisition in the fourth quarter worth about $445,000. Finally, HighTower Advisors LLC purchased a new position in shares of Starboard Value Acquisition in the fourth quarter worth about $684,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Starboard Value Acquisition Stock Performance

Starboard Value Acquisition stock opened at $9.12 on Tuesday. The stock’s 50 day moving average is $9.99 and its 200 day moving average is $10.26. Starboard Value Acquisition Corp. has a twelve month low of $7.35 and a twelve month high of $12.00.

Starboard Value Acquisition (NASDAQ:SVAC) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($13.80) earnings per share for the quarter.

Starboard Value Acquisition Company Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.