Sona Asset Management US LLC Invests $3.72 Million in Championsgate Acquisition Corp $CHPG

Key Points

• Sona Asset Management acquired 362,528 shares of Championsgate Acquisition Corp., worth approximately $3.72 million, giving it a 4.17% stake.
• Several other institutional investors—including ABC Arbitrage, HRT Financial, L1 Global Manager, Stoic Point Capital, and Quarry LP—also established positions in the SPAC during the fourth quarter.
• CHPG shares opened at $10.41, near their 52-week high of $10.42. The company reported quarterly EPS of $0.06 and revenue of $680,000, while its sole analyst rating remains Sell.

Sona Asset Management US LLC bought a new position in shares of Championsgate Acquisition Corp (NASDAQ:CHPG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 362,528 shares of the company's stock, valued at approximately $3,716,000. Sona Asset Management US LLC owned about 4.17% of Championsgate Acquisition at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. ABC Arbitrage SA bought a new position in Championsgate Acquisition during the fourth quarter worth $255,000. HRT Financial LP acquired a new position in shares of Championsgate Acquisition in the fourth quarter valued at $447,000. L1 Global Manager Pty Ltd bought a new position in shares of Championsgate Acquisition in the fourth quarter valued at about $459,000. Stoic Point Capital Management LLC bought a new position in shares of Championsgate Acquisition in the fourth quarter valued at about $685,000. Finally, Quarry LP acquired a new stake in shares of Championsgate Acquisition during the 4th quarter worth about $815,000.

Championsgate Acquisition Stock Performance

Shares of NASDAQ CHPG opened at $10.41 on Monday. The business's 50 day moving average price is $10.38. Championsgate Acquisition Corp has a 1-year low of $10.00 and a 1-year high of $10.42.

Championsgate Acquisition (NASDAQ:CHPG - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $0.68 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Championsgate Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Championsgate Acquisition presently has an average rating of "Sell".

About Championsgate Acquisition

Championsgate Acquisition NASDAQ: CHPG is a publicly traded special purpose acquisition company (SPAC) formed to raise capital and effect a business combination with one or more operational businesses. As a blank‑check acquisition vehicle, its primary corporate purpose is to identify, negotiate and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination that would bring a private operating company into the public markets through the SPAC structure.

Like other SPACs, Championsgate Acquisition's activities center on sourcing potential targets, conducting due diligence, structuring transaction terms and securing shareholder approval for proposed business combinations.

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