Scoggin Management LP Acquires Shares of 1,000,000 WM Technology, Inc. $MAPS

Key Points

• Scoggin Management LP acquired a new position of approximately $1.13 million in WM Technology, Inc. by purchasing 1,000,000 shares during the first quarter of 2023.
• WM Technology's shares opened at $1.24, with a market capitalization of $194.12 million and a price-to-earnings ratio of 15.50, as it posted lower than expected quarterly earnings.
• Analysts have a consensus rating of "Buy" for WM Technology, with an average target price of $2.61, despite a recent downgrade from "strong-buy" to "hold" by Wall Street Zen.

Scoggin Management LP purchased a new stake in WM Technology, Inc. (NASDAQ:MAPS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,000,000 shares of the company's stock, valued at approximately $1,130,000. Scoggin Management LP owned 0.65% of WM Technology as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAPS. Cubist Systematic Strategies LLC acquired a new position in WM Technology in the 4th quarter valued at approximately $28,000. The Manufacturers Life Insurance Company acquired a new position in WM Technology in the 4th quarter valued at approximately $35,000. Voya Investment Management LLC acquired a new position in WM Technology in the 4th quarter valued at approximately $39,000. Kathmere Capital Management LLC acquired a new position in WM Technology in the 1st quarter valued at approximately $41,000. Finally, FNY Investment Advisers LLC increased its position in WM Technology by 125.6% in the 1st quarter. FNY Investment Advisers LLC now owns 44,900 shares of the company's stock valued at $50,000 after acquiring an additional 25,000 shares during the period. 22.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WM Technology

In other WM Technology news, CEO Douglas Francis sold 156,974 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $1.16, for a total value of $182,089.84. Following the transaction, the chief executive officer directly owned 8,729,539 shares of the company's stock, valued at approximately $10,126,265.24. This trade represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian Camire sold 90,482 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $1.17, for a total transaction of $105,863.94. Following the completion of the transaction, the general counsel directly owned 1,933,841 shares in the company, valued at $2,262,593.97. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,303 shares of company stock valued at $533,515 over the last 90 days. Insiders own 23.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Westpark Capital reiterated a "buy" rating and set a $2.61 price objective on shares of WM Technology in a research report on Monday, August 11th. Wall Street Zen cut shares of WM Technology from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $2.61.

WM Technology Trading Up 4.5%

NASDAQ MAPS traded up $0.05 on Friday, hitting $1.17. 672,494 shares of the company were exchanged, compared to its average volume of 1,865,456. The company has a market cap of $183.16 million, a PE ratio of 14.63 and a beta of 1.07. WM Technology, Inc. has a 12 month low of $0.70 and a 12 month high of $1.65. The stock has a fifty day moving average of $1.03 and a 200-day moving average of $1.10.

WM Technology (NASDAQ:MAPS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $44.85 million for the quarter, compared to the consensus estimate of $45.00 million. WM Technology had a return on equity of 7.20% and a net margin of 4.77%. WM Technology has set its Q3 2025 guidance at EPS.

WM Technology Profile

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and education and learning information to help newer consumers learn about the types of products to purchase.