Gritstone Asset Management LLC Sells 260,000 Shares of Churchill Capital Corp IX $CCIX

Key Points

• Gritstone Asset Management sold 260,000 shares of Churchill Capital Corp IX in Q4, cutting its stake by 58.2% to 186,560 shares (about $1.98M) and making CCIX its 14th largest holding at roughly 1.9% of the portfolio.
• Other institutions showed net buying: FNY Investment Advisers grew its position 301% to 56,940 shares, Meteora Capital more than doubled to 668,024 shares, and Clear Street opened a new ~ $2.62M stake, signaling mixed institutional flows.
• Analyst sentiment remains a consensus "Sell" despite a recent upgrade to "Hold" from Wall Street Zen; CCIX trades around $10.77 with a market cap of about $395M and a trailing PE near 49.

Gritstone Asset Management LLC lowered its stake in shares of Churchill Capital Corp IX (NASDAQ:CCIX - Free Report) by 58.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,560 shares of the company's stock after selling 260,000 shares during the quarter. Churchill Capital Corp IX makes up approximately 1.9% of Gritstone Asset Management LLC's portfolio, making the stock its 14th largest holding. Gritstone Asset Management LLC owned about 0.51% of Churchill Capital Corp IX worth $1,983,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC grew its position in 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 valued at $605,000 after buying an additional 42,740 shares during the period. Meteora Capital LLC lifted its holdings in Churchill Capital Corp IX by 105.7% during the third quarter. Meteora Capital LLC now owns 668,024 shares of the company's stock valued at $7,001,000 after purchasing an additional 343,339 shares during the last quarter. Verition Fund Management LLC lifted its holdings in Churchill Capital Corp IX by 28.6% during the third quarter. Verition Fund Management LLC now owns 248,369 shares of the company's stock valued at $2,603,000 after purchasing an additional 55,177 shares during the last quarter. Clear Street Group Inc. purchased a new stake in Churchill Capital Corp IX during the third quarter valued at about $2,619,000. Finally, Berkley W R Corp lifted its holdings in Churchill Capital Corp IX by 46.2% during the third quarter. Berkley W R Corp now owns 39,976 shares of the company's stock valued at $419,000 after purchasing an additional 12,631 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Churchill Capital Corp IX in a report on Monday, December 29th. Wall Street Zen raised shares of Churchill Capital Corp IX from a "sell" rating to a "hold" rating in a report on Monday, March 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Churchill Capital Corp IX currently has a consensus rating of "Sell".

Churchill Capital Corp IX Stock Down 0.4%

NASDAQ CCIX opened at $10.77 on Wednesday. The company has a market cap of $394.85 million, a PE ratio of 48.96 and a beta of -0.11. Churchill Capital Corp IX has a 52 week low of $10.45 and a 52 week high of $11.66. The firm's 50-day simple moving average is $10.67 and its two-hundred day simple moving average is $10.65.

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.07 EPS for the quarter.

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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