Sona Asset Management US LLC Acquires Shares of 159,265 Gores Holdings X, Inc. / CI $GTEN

Key Points

• Sona Asset Management US LLC acquired 159,265 shares of Gores Holdings X, Inc. / CI (GTEN) worth approximately $1.63 million, representing about 0.35% of the company.
• Several other institutional investors also increased or initiated positions, including Verition Fund Management, which held 779,270 shares valued at roughly $8.02 million.
• GTEN shares opened at $10.51 with a market capitalization of approximately $474 million; the stock carries a consensus “Sell” rating, including a reiterated “sell (D-)” rating from Weiss Ratings.

Sona Asset Management US LLC acquired a new position in shares of Gores Holdings X, Inc. / CI (NASDAQ:GTEN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 159,265 shares of the company's stock, valued at approximately $1,631,000. Sona Asset Management US LLC owned about 0.35% of Gores Holdings X, Inc. / CI as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harraden Circle Investments LLC purchased a new stake in shares of Gores Holdings X, Inc. / CI in the 4th quarter valued at about $5,556,000. Quarry LP boosted its position in shares of Gores Holdings X, Inc. / CI by 23.0% in the 4th quarter. Quarry LP now owns 61,632 shares of the company's stock valued at $632,000 after purchasing an additional 11,506 shares during the period. DLD Asset Management LP purchased a new position in Gores Holdings X, Inc. / CI during the 4th quarter worth approximately $1,594,000. Westchester Capital Management LLC purchased a new position in Gores Holdings X, Inc. / CI during the 4th quarter worth approximately $5,300,000. Finally, Verition Fund Management LLC increased its position in Gores Holdings X, Inc. / CI by 9.8% during the fourth quarter. Verition Fund Management LLC now owns 779,270 shares of the company's stock worth $8,019,000 after buying an additional 69,271 shares during the period.

Gores Holdings X, Inc. / CI Price Performance

Shares of Gores Holdings X, Inc. / CI stock opened at $10.51 on Monday. The stock has a market cap of $473.97 million and a P/E ratio of 75.10. Gores Holdings X, Inc. / CI has a 1 year low of $10.12 and a 1 year high of $10.60. The stock's fifty day simple moving average is $10.43.

Gores Holdings X, Inc. / CI (NASDAQ:GTEN - Get Free Report) last announced its earnings results on Saturday, March 28th. The company reported $0.32 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Gores Holdings X, Inc. / CI in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

Gores Holdings X, Inc. / CI Profile

Gores Holdings X, Inc NASDAQ: GTEN is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating businesses. As a blank‑check company, GTEN’s principal activity is to identify, evaluate and complete a merger, asset acquisition, stock purchase, reorganization or similar business combination that would result in a publicly traded combined company.

Prior to completing a business combination, Gores Holdings X does not operate commercial businesses; its operations typically consist of raising capital through an initial public offering, maintaining funds in a trust account, and conducting diligence and negotiations with potential targets.

Want to see what other hedge funds are holding GTEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gores Holdings X, Inc. / CI (NASDAQ:GTEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.