Rivernorth Capital Management LLC Acquires Shares of 99,844 Evolution Global Acquisition Corp $EVOX

Key Points

• Rivernorth Capital Management acquired 99,844 shares of Evolution Global Acquisition Corp., valued at approximately $994,000, representing about 0.36% of the company.
• Several other institutional investors, including Geode Capital Management and ExodusPoint Capital Management, also initiated positions in EVOX during the fourth quarter.
• EVOX traded at $10.06, near its 50-day moving average, while the company reported quarterly EPS of $0.06. Analyst sentiment remains negative, with a consensus rating of “Sell.”

Rivernorth Capital Management LLC bought a new position in Evolution Global Acquisition Corp (NASDAQ:EVOX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 99,844 shares of the company's stock, valued at approximately $994,000. Rivernorth Capital Management LLC owned about 0.36% of Evolution Global Acquisition at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EVOX. Toronto Dominion Bank bought a new position in shares of Evolution Global Acquisition during the 4th quarter worth $38,000. Meteora Capital LLC bought a new position in Evolution Global Acquisition during the fourth quarter worth about $49,000. ABC Arbitrage SA purchased a new position in shares of Evolution Global Acquisition in the fourth quarter worth about $197,000. Geode Capital Management LLC bought a new stake in shares of Evolution Global Acquisition in the fourth quarter valued at approximately $250,000. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Evolution Global Acquisition during the 4th quarter valued at approximately $368,000.

Evolution Global Acquisition Stock Up 0.1%

EVOX stock opened at $10.06 on Thursday. The firm's 50-day moving average is $10.04. Evolution Global Acquisition Corp has a twelve month low of $9.86 and a twelve month high of $10.09.

Evolution Global Acquisition (NASDAQ:EVOX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Evolution Global Acquisition from a "sell (e)" rating to a "sell (e+)" rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Evolution Global Acquisition has a consensus rating of "Sell".

Evolution Global Acquisition Company Profile

Evolution Global Acquisition NASDAQ: EVOX is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check company, its primary business purpose is to identify, negotiate and complete a business combination, merger or other acquisition that takes a target company public through the SPAC structure. The vehicle provides a means for investors to gain exposure to prospective private companies seeking public market access via a negotiated transaction with the sponsor.

SPACs like Evolution Global Acquisition typically raise capital in an initial public offering and hold funds in trust while they evaluate potential transaction opportunities.

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