Context Capital Management LLC Sells 200,000 Shares of Starboard Value Acquisition Corp. $SVAC

Key Points

• Context Capital Management cut its stake in Starboard Value Acquisition by 31.2% in the first quarter, selling 200,000 shares and leaving it with 441,420 shares worth about $4.49 million.
• Several other institutional investors also initiated or added positions in SVAC, including Picton Mahoney Asset Management, Alberta Investment Management Corp., and AQR Arbitrage LLC, each with multimillion-dollar stakes.
• Analyst sentiment remains weak: Weiss Ratings upgraded the stock slightly from “sell (e+)” to “sell (d-),” and MarketBeat reports an overall Sell average rating. SVAC last traded at $9.12, below its 50-day and 200-day moving averages.

Context Capital Management LLC reduced its position in shares of Starboard Value Acquisition Corp. (NASDAQ:SVAC - Free Report) by 31.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 441,420 shares of the company's stock after selling 200,000 shares during the period. Context Capital Management LLC owned 0.87% of Starboard Value Acquisition worth $4,485,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SVAC. Picton Mahoney Asset Management bought a new position in Starboard Value Acquisition during the 4th quarter valued at approximately $10,360,000. Alberta Investment Management Corp bought a new position in Starboard Value Acquisition during the 4th quarter valued at approximately $10,150,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Starboard Value Acquisition during the fourth quarter valued at $10,150,000. Fort Baker Capital Management LP bought a new stake in Starboard Value Acquisition in the fourth quarter worth $9,648,000. Finally, AQR Arbitrage LLC purchased a new stake in shares of Starboard Value Acquisition in the fourth quarter worth $9,481,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Starboard Value Acquisition has an average rating of "Sell".

Starboard Value Acquisition Stock Performance

SVAC opened at $9.12 on Monday. The company's 50-day simple moving average is $10.15 and its two-hundred day simple moving average is $10.30. Starboard Value Acquisition Corp. has a 52-week low of $7.35 and a 52-week high of $12.00.

Starboard Value Acquisition (NASDAQ:SVAC - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($13.80) earnings per share for the quarter.

Starboard Value Acquisition Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.

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