DLD Asset Management LP Buys Shares of 501,421 SIM Acquisition Corp. I $SIMA

Key Points

• DLD Asset Management LP disclosed a new first-quarter stake in SIM Acquisition Corp. I, buying 501,421 shares valued at about $5.38 million. The position represents roughly 1.63% of SIMA and about 0.5% of DLD’s portfolio.
• Other hedge funds have also been active in SIMA, including new or expanded positions from L1 Global Manager, Wolverine Asset Management, Hudson Bay Capital, Radcliffe Capital, and Shaolin Capital Management.
• On the ratings side, Weiss Ratings downgraded SIM Acquisition Corp. I from “sell (d+)” to “sell (d)”, and the stock’s overall analyst consensus remains Sell.

DLD Asset Management LP bought a new stake in SIM Acquisition Corp. I (NASDAQ:SIMA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 501,421 shares of the company's stock, valued at approximately $5,375,000. SIM Acquisition Corp. I comprises about 0.5% of DLD Asset Management LP's investment portfolio, making the stock its 21st biggest position. DLD Asset Management LP owned approximately 1.63% of SIM Acquisition Corp. I at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. L1 Global Manager Pty Ltd bought a new stake in shares of SIM Acquisition Corp. I during the fourth quarter worth approximately $2,118,000. Wolverine Asset Management LLC boosted its stake in SIM Acquisition Corp. I by 1.2% in the fourth quarter. Wolverine Asset Management LLC now owns 732,459 shares of the company's stock valued at $7,757,000 after acquiring an additional 8,514 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in SIM Acquisition Corp. I during the 2nd quarter worth $3,099,000. Radcliffe Capital Management L.P. acquired a new stake in SIM Acquisition Corp. I during the 2nd quarter worth $2,820,000. Finally, Shaolin Capital Management LLC grew its holdings in SIM Acquisition Corp. I by 101.4% during the 3rd quarter. Shaolin Capital Management LLC now owns 201,350 shares of the company's stock worth $2,122,000 after acquiring an additional 101,350 shares during the period.

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 note on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell".

SIM Acquisition Corp. I Stock Up 0.4%

Shares of SIMA stock opened at $10.98 on Thursday. The stock has a 50-day moving average of $10.89 and a 200-day moving average of $10.77. SIM Acquisition Corp. I has a one year low of $10.10 and a one year high of $12.90.

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

About SIM Acquisition Corp. I

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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