97,608 Shares in SunCar Technology Group Inc. $SDA Purchased by Alpine Global Management LLC

Key Points

• Alpine Global Management LLC has acquired a new position in SunCar Technology Group Inc., purchasing approximately 97,608 shares valued at $402,000.
• Several hedge funds, including Invesco Ltd. and Geode Capital Management LLC, have also increased their stakes in SunCar Technology Group, reflecting growing interest in the stock.
• Analysts currently rate SunCar Technology Group as a "Buy," with an average price target of $7.75, following Oppenheimer's initiation of coverage with a target price of $3.50.

Alpine Global Management LLC bought a new position in SunCar Technology Group Inc. (NASDAQ:SDA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 97,608 shares of the company's stock, valued at approximately $402,000. Alpine Global Management LLC owned 0.09% of SunCar Technology Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of SunCar Technology Group by 42.7% during the fourth quarter. Geode Capital Management LLC now owns 34,865 shares of the company's stock worth $336,000 after purchasing an additional 10,431 shares during the period. Invesco Ltd. raised its holdings in shares of SunCar Technology Group by 33.6% in the 4th quarter. Invesco Ltd. now owns 43,851 shares of the company's stock worth $423,000 after purchasing an additional 11,033 shares during the period. Marshall Wace LLP bought a new stake in SunCar Technology Group during the 4th quarter valued at $100,000. BNP Paribas Financial Markets purchased a new position in SunCar Technology Group in the fourth quarter worth $69,000. Finally, XTX Topco Ltd lifted its stake in SunCar Technology Group by 17.2% in the first quarter. XTX Topco Ltd now owns 31,389 shares of the company's stock worth $129,000 after purchasing an additional 4,616 shares during the last quarter. Institutional investors and hedge funds own 0.26% of the company's stock.

SunCar Technology Group Stock Down 1.1%

SunCar Technology Group stock traded down $0.03 during trading hours on Friday, hitting $2.60. 45,558 shares of the company traded hands, compared to its average volume of 265,473. SunCar Technology Group Inc. has a 1-year low of $2.12 and a 1-year high of $11.74. The firm's 50-day simple moving average is $2.39 and its two-hundred day simple moving average is $3.09.

Analyst Ratings Changes

Separately, Oppenheimer initiated coverage on shares of SunCar Technology Group in a research report on Tuesday, June 10th. They set an "outperform" rating and a $3.50 target price for the company. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $7.75.

SunCar Technology Group Company Profile

SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.