Sona Asset Management US LLC Purchases Shares of 350,000 Cohen Circle Acquisition Corp. II $CCII

Key Points

• Sona Asset Management purchased 350,000 shares of Cohen Circle Acquisition Corp. II in the first quarter, valued at approximately $3.58 million and representing about 1.01% of the company.
• Several institutional investors also initiated or increased positions, while Radcliffe Capital Management raised its stake by 12.1% to 616,577 shares.
• CCII opened at $10.32, near its 52-week range of $10.07 to $10.50, and holds a “Sell” consensus rating from analysts despite Wall Street Zen upgrading the stock to “Hold.”

Sona Asset Management US LLC acquired a new stake in shares of Cohen Circle Acquisition Corp. II (NASDAQ:CCII - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 350,000 shares of the company's stock, valued at approximately $3,577,000. Sona Asset Management US LLC owned about 1.01% of Cohen Circle Acquisition Corp. II at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lineage Point Capital LP purchased a new stake in Cohen Circle Acquisition Corp. II in the fourth quarter valued at approximately $717,000. L1 Global Manager Pty Ltd acquired a new position in Cohen Circle Acquisition Corp. II during the fourth quarter worth approximately $512,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Cohen Circle Acquisition Corp. II during the fourth quarter worth approximately $3,584,000. Mint Tower Capital Management B.V. purchased a new position in Cohen Circle Acquisition Corp. II during the fourth quarter worth approximately $4,096,000. Finally, Radcliffe Capital Management L.P. boosted its holdings in shares of Cohen Circle Acquisition Corp. II by 12.1% in the 4th quarter. Radcliffe Capital Management L.P. now owns 616,577 shares of the company's stock valued at $6,314,000 after purchasing an additional 66,577 shares during the last quarter.

Cohen Circle Acquisition Corp. II Price Performance

CCII opened at $10.32 on Monday. Cohen Circle Acquisition Corp. II has a 1 year low of $10.07 and a 1 year high of $10.50. The business's 50 day simple moving average is $10.31.

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

Wall Street Analyst Weigh In

CCII has been the subject of several research reports. Weiss Ratings raised shares of Cohen Circle Acquisition Corp. II from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 1st. Wall Street Zen upgraded Cohen Circle Acquisition Corp. II to a "hold" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Cohen Circle Acquisition Corp. II Company 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.

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.