Championsgate Acquisition (NASDAQ:CHPG) Trading 0.5% Higher - Here's Why

Key Points

• Championsgate Acquisition (NASDAQ:CHPG) traded up 0.5% to $10.30 on Monday, but volume was extremely light at 100 shares—down about 58% versus the average session volume.
• Weiss Ratings initiated coverage with a Sell (e) rating, and MarketBeat's consensus rating for the stock is currently Sell.
• The company reported quarterly results of $0.09 EPS on $0.73 million in revenue, and several institutional investors (including First Trust, Wolverine, Clear Street and Rivernorth) increased their stakes in Q4 while Quarry LP opened a new position.

Championsgate Acquisition Corp (NASDAQ:CHPG - Get Free Report)'s stock price traded up 0.5% on Monday . The company traded as high as $10.30 and last traded at $10.30. 100 shares traded hands during trading, a decline of 58% from the average session volume of 239 shares. The stock had previously closed at $10.25.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings assumed coverage on shares of Championsgate Acquisition in a research report on Monday, January 26th. They set a "sell (e)" rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

Championsgate Acquisition Trading Up 0.5%

The stock's 50-day simple moving average is $10.27.

Championsgate Acquisition (NASDAQ:CHPG - Get Free Report) last released its quarterly earnings data on Friday, April 10th. The company reported $0.09 EPS for the quarter. The business had revenue of $0.73 million for the quarter.

Hedge Funds Weigh In On Championsgate Acquisition

Several institutional investors have recently bought and sold shares of the business. First Trust Capital Management L.P. lifted its position in Championsgate Acquisition by 3.5% during the fourth quarter. First Trust Capital Management L.P. now owns 514,174 shares of the company's stock valued at $5,239,000 after purchasing an additional 17,239 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Championsgate Acquisition by 12.2% in the 4th quarter. Wolverine Asset Management LLC now owns 405,194 shares of the company's stock worth $4,129,000 after acquiring an additional 44,069 shares during the last quarter. Clear Street Group Inc. lifted its holdings in shares of Championsgate Acquisition by 15.8% in the 4th quarter. Clear Street Group Inc. now owns 297,430 shares of the company's stock worth $3,031,000 after acquiring an additional 40,601 shares during the last quarter. Rivernorth Capital Management LLC lifted its holdings in shares of Championsgate Acquisition by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 149,062 shares of the company's stock worth $1,519,000 after acquiring an additional 37,500 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Championsgate Acquisition in the 4th quarter worth about $815,000.

About Championsgate Acquisition

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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