Gritstone Asset Management LLC Trims Position in HCM II Acquisition Corp. $HOND

Key Points

• Gritstone Asset Management LLC has reduced its stake in HCM II Acquisition Corp. by 22.3%, now holding 173,847 shares after selling 50,000 shares. The company's stock represents about 2.0% of Gritstone's total portfolio.
• Several institutional investors, including Linden Advisors LP and Magnetar Financial LLC, have also initiated positions in HCM II Acquisition during the first quarter, collectively investing over $67 million.
• HCM II Acquisition Corp. currently holds a consensus rating of "Sell", with Weiss Ratings reaffirming a "sell (d-)" rating on the stock.

Gritstone Asset Management LLC decreased its position in shares of HCM II Acquisition Corp. (NASDAQ:HOND - Free Report) by 22.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 173,847 shares of the company's stock after selling 50,000 shares during the period. HCM II Acquisition accounts for approximately 2.0% of Gritstone Asset Management LLC's portfolio, making the stock its 19th largest holding. Gritstone Asset Management LLC owned approximately 0.60% of HCM II Acquisition worth $1,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HOND. Linden Advisors LP purchased a new position in shares of HCM II Acquisition during the first quarter valued at approximately $21,150,000. Magnetar Financial LLC purchased a new position in HCM II Acquisition during the first quarter worth approximately $20,719,000. MMCAP International Inc. SPC purchased a new position in HCM II Acquisition during the first quarter worth approximately $10,310,000. Encompass Capital Advisors LLC purchased a new position in HCM II Acquisition during the first quarter worth approximately $10,006,000. Finally, Calamos Advisors LLC purchased a new position in HCM II Acquisition during the first quarter worth approximately $5,288,000.

HCM II Acquisition Price Performance

Shares of HOND stock opened at $18.86 on Friday. The company's fifty day simple moving average is $13.17 and its 200-day simple moving average is $11.80. HCM II Acquisition Corp. has a 52 week low of $9.96 and a 52 week high of $20.55.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of HCM II Acquisition in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of "Sell".

HCM II Acquisition Profile

HCM II Acquisition Corp. operates as a blank check company. It was formed for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on April 4, 2024 and is headquartered in Stamford, CT.

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