Wolverine Asset Management LLC Trims Position in Cartesian Growth Corp III $CGCT

Key Points

• Wolverine Asset Management LLC cut its stake in Cartesian Growth Corp III by 87.1% in Q4, selling 305,736 shares and retaining 45,312 shares valued at $466,000 (about 0.13% ownership).
• UBS Group AG increased its position by 264.9% in Q4, buying 156,697 shares to hold 215,841 shares worth roughly $2.22 million.
• Weiss Ratings initiated coverage with a “sell (e+)” rating, and the stock’s average analyst consensus is a Sell.

Wolverine Asset Management LLC trimmed its holdings in Cartesian Growth Corp III (NASDAQ:CGCT - Free Report) by 87.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 45,312 shares of the company's stock after selling 305,736 shares during the period. Wolverine Asset Management LLC owned 0.13% of Cartesian Growth Corp III worth $466,000 at the end of the most recent reporting period.

Separately, UBS Group AG raised its holdings in shares of Cartesian Growth Corp III by 264.9% in the fourth quarter. UBS Group AG now owns 215,841 shares of the company's stock valued at $2,222,000 after buying an additional 156,697 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings assumed coverage on shares of Cartesian Growth Corp III in a report on Monday, January 26th. They issued a "sell (e+)" rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

Cartesian Growth Corp III Stock Up 0.3%

Shares of CGCT opened at $10.41 on Thursday. The firm has a market cap of $359.15 million and a PE ratio of 54.79. The firm has a fifty day moving average price of $10.28. Cartesian Growth Corp III has a 1 year low of $10.00 and a 1 year high of $10.44.

Cartesian Growth Corp III (NASDAQ:CGCT - Get Free Report) last posted its quarterly earnings results on Saturday, March 21st. The company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $2.71 million for the quarter.

Cartesian Growth Corp III Profile

Cartesian Growth Corp III NASDAQ: CGCT is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company, that is listed on the Nasdaq stock exchange. As a SPAC, Cartesian Growth Corp III was formed to raise capital through an initial public offering with the objective of identifying, negotiating and completing one or more business combinations or acquisitions. The company itself does not operate an ongoing commercial business prior to completing a business combination.

The company’s principal activities center on sourcing potential acquisition targets, conducting due diligence, arranging transaction financing and completing a business combination that would result in an operating public company.

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