Berkley W R Corp Acquires 112,553 Shares of BEST SPAC I Acquisition Corp. $BSAA

Key Points

• Berkley W R Corp increased its BEST SPAC I Acquisition stake by 34.6% in the first quarter, adding 112,553 shares to own 437,808 shares worth approximately $4.48 million, or 5.92% of the company.
• Several institutional investors, including Aristeia Capital and Westchester Capital Management, also established new positions in BSAA during the fourth quarter.
• BSAA shares opened at $11.85, compared with a 50-day moving average of $12.17, while the stock carries an average analyst rating of “Sell.”

Berkley W R Corp increased its stake in BEST SPAC I Acquisition Corp. (NASDAQ:BSAA - Free Report) by 34.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 437,808 shares of the company's stock after acquiring an additional 112,553 shares during the period. Berkley W R Corp owned approximately 5.92% of BEST SPAC I Acquisition worth $4,483,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new position in shares of BEST SPAC I Acquisition during the 4th quarter valued at approximately $70,000. PenderFund Capital Management Ltd. purchased a new position in BEST SPAC I Acquisition during the fourth quarter worth $120,000. Westchester Capital Management LLC bought a new position in BEST SPAC I Acquisition during the fourth quarter valued at $506,000. L1 Global Manager Pty Ltd bought a new position in BEST SPAC I Acquisition during the fourth quarter valued at $506,000. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of BEST SPAC I Acquisition in the fourth quarter valued at $962,000.

BEST SPAC I Acquisition Stock Performance

Shares of BSAA stock opened at $11.85 on Monday. The stock has a 50-day moving average of $12.17. BEST SPAC I Acquisition Corp. has a one year low of $9.82 and a one year high of $17.20.

BEST SPAC I Acquisition (NASDAQ:BSAA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.10 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of BEST SPAC I Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

About BEST SPAC I Acquisition

BEST SPAC I Acquisition Corp. NASDAQ: BSAA is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.

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