Crown Reserve Acquisition Corp. I $CRAC Shares Bought by Berkley W R Corp

Key Points

• Berkley W R Corp increased its Crown Reserve Acquisition Corp. I stake by 93.5% in the first quarter, adding 218,227 shares to own 451,723 shares valued at approximately $4.52 million, or 2.10% of the company.
• Several institutional investors, including Lineage Point Capital, Context Capital Management, and Pennsylvania’s public employee retirement system, established new positions in CRAC during the fourth quarter.
• CRAC holds a consensus “Sell” rating from analysts. The SPAC opened at $10.14, near its 52-week high of $10.15, and reported a quarterly loss of $0.01 per share.

Berkley W R Corp grew its position in Crown Reserve Acquisition Corp. I (NASDAQ:CRAC - Free Report) by 93.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 451,723 shares of the company's stock after acquiring an additional 218,227 shares during the quarter. Berkley W R Corp owned approximately 2.10% of Crown Reserve Acquisition Corp. I worth $4,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CRAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Crown Reserve Acquisition Corp. I in the 4th quarter worth about $3,043,000. Aristeia Capital L.L.C. acquired a new position in shares of Crown Reserve Acquisition Corp. I in the 4th quarter valued at about $2,982,000. Lineage Point Capital LP bought a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $7,614,000. Context Capital Management LLC bought a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $4,970,000. Finally, Wolverine Asset Management LLC acquired a new stake in Crown Reserve Acquisition Corp. I during the fourth quarter worth about $928,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Crown Reserve Acquisition Corp. I from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Crown Reserve Acquisition Corp. I Stock Performance

CRAC stock opened at $10.14 on Monday. Crown Reserve Acquisition Corp. I has a fifty-two week low of $9.89 and a fifty-two week high of $10.15. The business has a 50-day moving average price of $10.11.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Crown Reserve Acquisition Corp. I Profile

Crown Reserve Acquisition Corp. I NASDAQ: CRAC is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company's principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.

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