Berkley W R Corp Raises Stock Position in SIM Acquisition Corp. I $SIMA

Key Points

• Berkley W R Corp increased its SIM Acquisition Corp. I stake by 74.9% in the first quarter, adding 390,768 shares to hold 912,286 shares worth approximately $9.78 million, or 2.97% of the company.
• Several other institutional investors also established or expanded positions, including Citadel Advisors, Shaolin Capital Management, Sculptor Capital, L1 Global Manager and Radcliffe Capital Management.
• Analyst sentiment remains negative: Weiss Ratings downgraded SIMA to “sell,” while the stock opened at $10.90 and reported quarterly EPS of $0.07.

Berkley W R Corp increased its position in SIM Acquisition Corp. I (NASDAQ:SIMA - Free Report) by 74.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 912,286 shares of the company's stock after acquiring an additional 390,768 shares during the period. Berkley W R Corp owned about 2.97% of SIM Acquisition Corp. I worth $9,780,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SIMA. Citadel Advisors LLC increased its stake in shares of SIM Acquisition Corp. I by 22.4% in the third quarter. Citadel Advisors LLC now owns 15,460 shares of the company's stock worth $162,000 after purchasing an additional 2,826 shares in the last quarter. Shaolin Capital Management LLC purchased a new stake in shares of SIM Acquisition Corp. I during the 2nd quarter valued at about $1,042,000. Sculptor Capital LP purchased a new stake in SIM Acquisition Corp. I during the second quarter valued at approximately $1,826,000. L1 Global Manager Pty Ltd bought a new stake in SIM Acquisition Corp. I in the fourth quarter worth $2,118,000. Finally, Radcliffe Capital Management L.P. bought a new stake in shares of SIM Acquisition Corp. I in the 2nd quarter worth about $2,820,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded SIM Acquisition Corp. I from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

SIM Acquisition Corp. I Stock Down 0.4%

Shares of SIMA stock opened at $10.90 on Monday. The stock's 50-day moving average is $10.87 and its 200 day moving average is $10.78. SIM Acquisition Corp. I has a 1-year low of $10.10 and a 1-year high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA - Get Free Report) last announced its earnings results on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter.

SIM Acquisition Corp. I Profile

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.

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