Saba Capital Management L.P. Decreases Stock Position in Cohen Circle Acquisition Corp. II $CCII

Key Points

• Saba Capital Management cut its Cohen Circle Acquisition Corp. II position by 26.9% in the first quarter, selling 184,100 shares and retaining 499,900 shares valued at approximately $5.1 million.
• Other institutional activity was mixed: Toronto Dominion Bank increased its holdings by 58.1%, while several investors—including Sona Asset Management and Alberta Investment Management—opened new positions.
• CCII shares opened at $10.32, near the middle of their $10.07–$10.50 twelve-month range. The company reported quarterly EPS of $0.07, while analyst coverage remained negative with an overall “Sell” rating.

Saba Capital Management L.P. reduced its position in Cohen Circle Acquisition Corp. II (NASDAQ:CCII - Free Report) by 26.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 499,900 shares of the company's stock after selling 184,100 shares during the period. Saba Capital Management L.P. owned 1.44% of Cohen Circle Acquisition Corp. II worth $5,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sona Asset Management US LLC purchased a new position in shares of Cohen Circle Acquisition Corp. II in the first quarter valued at $3,577,000. Lineage Point Capital LP bought a new stake in Cohen Circle Acquisition Corp. II during the fourth quarter worth about $717,000. Virtu Financial LLC bought a new stake in Cohen Circle Acquisition Corp. II in the 4th quarter worth approximately $346,000. Alberta Investment Management Corp purchased a new stake in shares of Cohen Circle Acquisition Corp. II in the 4th quarter valued at $2,048,000. Finally, Toronto Dominion Bank grew its holdings in shares of Cohen Circle Acquisition Corp. II by 58.1% during the 4th quarter. Toronto Dominion Bank now owns 711,673 shares of the company's stock valued at $7,288,000 after purchasing an additional 261,673 shares during the last quarter.

Cohen Circle Acquisition Corp. II Price Performance

Shares of CCII opened at $10.32 on Tuesday. Cohen Circle Acquisition Corp. II has a twelve month low of $10.07 and a twelve month high of $10.50. The firm's fifty day moving average price is $10.31.

Cohen Circle Acquisition Corp. II (NASDAQ:CCII - Get Free Report) last posted its earnings results on Wednesday, March 25th. The company reported $0.07 earnings per share for the quarter.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Cohen Circle Acquisition Corp. II to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Cohen Circle Acquisition Corp. II from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Cohen Circle Acquisition Corp. II Profile

Cohen Circle Acquisition Corp. II NASDAQ: CCII is a special purpose acquisition company (SPAC) that is publicly listed on the Nasdaq stock exchange. As a blank‑check vehicle, its primary role is to raise capital from public-market investors and use those proceeds to complete a business combination with one or more operating companies. The company structure is intended to provide a faster and potentially more cost‑effective route for private businesses to access public markets through a merger or similar transaction.

The firm's principal activities center on identifying, negotiating and executing a qualifying business combination, which can take the form of a merger, asset acquisition, stock purchase, reorganization or other strategic transaction.

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