Context Capital Management LLC Has $6.32 Million Stake in Plum Acquisition Corp. IV $PLMK

Key Points

• Context Capital Management LLC cut its stake in Plum Acquisition Corp. IV by 14.6% in the first quarter, selling 102,001 shares and leaving it with 597,999 shares valued at about $6.32 million.
• Several other hedge funds also reported new positions in PLMK, including Radcliffe Capital Management L.P., which bought a stake worth about $3.2 million.
• Analysts remain bearish on the stock: Weiss Ratings reiterated a "sell (d)" rating, and MarketBeat shows a consensus rating of Sell.

Context Capital Management LLC reduced its stake in shares of Plum Acquisition Corp. IV (NASDAQ:PLMK - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,999 shares of the company's stock after selling 102,001 shares during the period. Context Capital Management LLC owned 2.47% of Plum Acquisition Corp. IV worth $6,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLMK. ABC Arbitrage SA acquired a new position in shares of Plum Acquisition Corp. IV during the 4th quarter valued at about $157,000. Crossingbridge Advisors LLC acquired a new stake in Plum Acquisition Corp. IV in the 4th quarter worth approximately $262,000. Virtu Financial LLC acquired a new stake in Plum Acquisition Corp. IV in the 4th quarter worth approximately $352,000. Moore Capital Management LP bought a new stake in Plum Acquisition Corp. IV during the second quarter worth approximately $772,000. Finally, Radcliffe Capital Management L.P. bought a new stake in Plum Acquisition Corp. IV during the second quarter worth approximately $3,201,000.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Plum Acquisition Corp. IV in a research report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Plum Acquisition Corp. IV currently has a consensus rating of "Sell".

Plum Acquisition Corp. IV Stock Performance

PLMK stock opened at $10.59 on Monday. The company has a 50-day moving average of $10.65 and a two-hundred day moving average of $10.57. Plum Acquisition Corp. IV has a 52-week low of $10.27 and a 52-week high of $12.00.

Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Plum Acquisition Corp. IV Profile

Plum Acquisition Corp. IV is a special purpose acquisition company incorporated in the Cayman Islands. Trading on the Nasdaq under the ticker PLMK, the company has no operating history and was formed for the purpose of effecting one or more business combinations, such as a merger, capital stock exchange, asset acquisition or similar transaction.

The company completed its initial public offering, raising capital through the sale of units comprised of ordinary shares and warrants. The net proceeds of the offering are held in a trust account, pending the identification and consummation of a suitable business combination within the prescribed timeframe, generally 24 months from the closing date of the offering.

Although Plum Acquisition Corp.

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