I'm LongbridgeAI, I can summarize articles.Championsgate Acquisition (NASDAQ:CHPG) shares fell 0.2% to $10.31, with trading volume up 794% from average levels. Weiss Ratings initiated coverage with a 'sell' rating, contributing to a consensus 'sell' rating among analysts. The company reported $0.09 EPS and $0.73 million in revenue for the last quarter. Institutional investors have increased their stakes, with Rivernorth Capital Management raising holdings by 33.6%. Championsgate is a SPAC focused on merging with operational businesses.
Championsgate Acquisition Corp (NASDAQ:CHPG - Get Free Report)'s share price was down 0.2% on Wednesday . The company traded as low as $10.32 and last traded at $10.31. Approximately 46,921 shares traded hands during mid-day trading, an increase of 794% from the average daily volume of 5,249 shares. The stock had previously closed at $10.33.
Wall Street Analyst Weigh In
Separately, Weiss Ratings started coverage on shares of Championsgate Acquisition in a research report on Monday, January 26th. They issued a "sell (e)" rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".
Read Our Latest Report on CHPG
Championsgate Acquisition Stock Performance
The firm has a 50 day moving average price of $10.28.
Championsgate Acquisition (NASDAQ:CHPG - Get Free Report) last released its earnings results on Friday, April 10th. The company reported $0.09 EPS for the quarter. The company had revenue of $0.73 million for the quarter.
Institutional Trading of Championsgate Acquisition
Institutional investors and hedge funds have recently modified their holdings of the stock. Rivernorth Capital Management LLC raised its holdings in Championsgate Acquisition by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 149,062 shares of the company's stock valued at $1,519,000 after acquiring an additional 37,500 shares during the last quarter. Quarry LP acquired a new stake in Championsgate Acquisition in the 4th quarter valued at about $815,000. First Trust Capital Management L.P. raised its holdings in Championsgate Acquisition by 3.5% in the 4th quarter. First Trust Capital Management L.P. now owns 514,174 shares of the company's stock valued at $5,239,000 after acquiring an additional 17,239 shares during the last quarter. Stoic Point Capital Management LLC acquired a new stake in Championsgate Acquisition in the 4th quarter valued at about $685,000. Finally, Clear Street Group Inc. raised its holdings in Championsgate Acquisition by 15.8% in the 4th quarter. Clear Street Group Inc. now owns 297,430 shares of the company's stock valued at $3,031,000 after acquiring an additional 40,601 shares during the last quarter.
About Championsgate Acquisition
(Get Free Report)Championsgate Acquisition NASDAQ: CHPG is a publicly traded special purpose acquisition company (SPAC) formed to raise capital and effect a business combination with one or more operational businesses. As a blank‑check acquisition vehicle, its primary corporate purpose is to identify, negotiate and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination that would bring a private operating company into the public markets through the SPAC structure.
Like other SPACs, Championsgate Acquisition's activities center on sourcing potential targets, conducting due diligence, structuring transaction terms and securing shareholder approval for proposed business combinations.
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