SIM Acquisition Corp. I $SIMA Shares Sold by Bulldog Investors LLP

Key Points

• Bulldog Investors LLP cut its stake in SIM Acquisition Corp. I by 51.8% in the first quarter, selling 214,660 shares and leaving it with 200,000 shares worth about $2.14 million.
• Other institutional investors also adjusted holdings: some, including Citadel Advisors, Wolverine Asset Management, and Radcliffe Capital Management, increased positions, while Shaolin Capital Management and Sculptor Capital LP opened new stakes.
• Weiss Ratings downgraded SIM Acquisition Corp. I to “sell (d)”, and MarketBeat says the stock’s average analyst rating is currently “Sell.”

Bulldog Investors LLP decreased its position in SIM Acquisition Corp. I (NASDAQ:SIMA - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company's stock after selling 214,660 shares during the period. Bulldog Investors LLP owned 0.65% of SIM Acquisition Corp. I worth $2,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citadel Advisors LLC lifted its holdings in SIM Acquisition Corp. I by 22.4% in the third quarter. Citadel Advisors LLC now owns 15,460 shares of the company's stock valued at $162,000 after acquiring an additional 2,826 shares during the last quarter. Wolverine Asset Management LLC increased its stake in SIM Acquisition Corp. I by 1.2% during the fourth quarter. Wolverine Asset Management LLC now owns 732,459 shares of the company's stock worth $7,757,000 after acquiring an additional 8,514 shares during the last quarter. Radcliffe Capital Management L.P. increased its stake in SIM Acquisition Corp. I by 5.2% during the fourth quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company's stock worth $5,680,000 after acquiring an additional 26,290 shares during the last quarter. Shaolin Capital Management LLC purchased a new stake in SIM Acquisition Corp. I in the second quarter valued at $1,042,000. Finally, Sculptor Capital LP purchased a new stake in SIM Acquisition Corp. I in the second quarter valued at $1,826,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered SIM Acquisition Corp. I from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, SIM Acquisition Corp. I presently has an average rating of "Sell".

SIM Acquisition Corp. I Price Performance

SIM Acquisition Corp. I stock opened at $10.95 on Tuesday. The company's 50 day simple moving average is $10.89 and its 200-day simple moving average is $10.77. SIM Acquisition Corp. I has a 1 year low of $10.10 and a 1 year high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.07 EPS for the quarter.

SIM Acquisition Corp. I Profile

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.

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