Churchill Capital Corp IX $CCIX Stake Raised by Berkley W R Corp

Key Points

• Berkley W R Corp increased its Churchill Capital Corp IX stake by 93.4% in the first quarter, owning 1.81 million shares valued at approximately $19.3 million, or 4.94% of CCIX.
• Several other institutional investors also expanded or initiated positions, including FNY Investment Advisers, which increased its holdings by 301%, and Radcliffe Capital Management and Verition Fund Management, which made smaller additions.
• CCIX recently traded at $10.88, with a market capitalization of about $398.9 million, while analysts maintain a consensus “Sell” rating; the company reported quarterly EPS of $0.04.

Berkley W R Corp boosted its holdings in shares of Churchill Capital Corp IX (NASDAQ:CCIX - Free Report) by 93.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,810,437 shares of the company's stock after acquiring an additional 874,256 shares during the quarter. Churchill Capital Corp IX accounts for about 1.0% of Berkley W R Corp's investment portfolio, making the stock its 13th largest holding. Berkley W R Corp owned 4.94% of Churchill Capital Corp IX worth $19,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mercuria Capital Strategies LLC acquired a new stake in shares of Churchill Capital Corp IX during the fourth quarter worth approximately $93,000. Radcliffe Capital Management L.P. grew its holdings in shares of Churchill Capital Corp IX by 12.2% during the 4th quarter. Radcliffe Capital Management L.P. now owns 152,581 shares of the company's stock valued at $1,622,000 after acquiring an additional 16,596 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Churchill Capital Corp IX by 9.5% during the 4th quarter. Verition Fund Management LLC now owns 272,020 shares of the company's stock valued at $2,892,000 after acquiring an additional 23,651 shares in the last quarter. Lineage Point Capital LP acquired a new position in shares of Churchill Capital Corp IX in the fourth quarter worth $360,000. Finally, FNY Investment Advisers LLC raised its holdings in shares of Churchill Capital Corp IX by 301.0% during the fourth quarter. FNY Investment Advisers LLC now owns 56,940 shares of the company's stock worth $605,000 after acquiring an additional 42,740 shares in the last quarter.

Churchill Capital Corp IX Stock Performance

CCIX opened at $10.88 on Monday. The firm has a market cap of $398.86 million, a P/E ratio of 57.27 and a beta of -0.05. The business has a 50 day moving average price of $10.84 and a 200 day moving average price of $10.74. Churchill Capital Corp IX has a twelve month low of $10.45 and a twelve month high of $11.32.

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.04 EPS for the quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on CCIX shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Churchill Capital Corp IX in a research report on Wednesday, May 6th. Wall Street Zen raised Churchill Capital Corp IX to a "sell" rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Churchill Capital Corp IX Company Profile

Coleman Cable, Inc (Coleman) is a designer, developer, manufacturer and supplier of electrical wire and cable products for consumer, commercial and industrial applications, with operations primarily in the United States and in Honduras and Canada. The Company's wire and cable products enable it to offer its customers a single source for many of their wire and cable product requirements. It manufactures its products in 10 domestic manufacturing locations and supplement its domestic production with both international and domestic sourcing.

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