Yorkville Advisors Global LP Takes Position in Texas Ventures Acquisition III Corp $TVA

Key Points

• Yorkville Advisors Global LP bought 1.05 million shares of Texas Ventures Acquisition III in the first quarter, a stake valued at about $10.9 million. The position represents 3.94% of TVA and is Yorkville’s fourth-largest holding.
• Several other institutional investors also added to their TVA holdings, including Lincoln Capital, Praetorian PR, Rivernorth Capital, Millennium Management, and Governors Lane. This suggests continued hedge fund interest in the SPAC.
• TVA shares were trading near $10.55, close to their 52-week low of $10.11 and below the high of $12.27. The stock also carries a consensus Sell rating from analysts.

Yorkville Advisors Global LP bought a new stake in shares of Texas Ventures Acquisition III Corp (NASDAQ:TVA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,050,000 shares of the company's stock, valued at approximately $10,910,000. Texas Ventures Acquisition III makes up approximately 6.6% of Yorkville Advisors Global LP's holdings, making the stock its 4th biggest holding. Yorkville Advisors Global LP owned 3.94% of Texas Ventures Acquisition III at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lincoln Capital Corp bought a new stake in Texas Ventures Acquisition III during the first quarter worth approximately $520,000. Praetorian PR LLC bought a new stake in shares of Texas Ventures Acquisition III in the 4th quarter valued at approximately $2,077,000. Rivernorth Capital Management LLC lifted its stake in shares of Texas Ventures Acquisition III by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company's stock valued at $4,233,000 after purchasing an additional 100,000 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Texas Ventures Acquisition III by 32.7% in the 4th quarter. Millennium Management LLC now owns 270,000 shares of the company's stock worth $2,876,000 after purchasing an additional 66,502 shares during the period. Finally, Governors Lane LP increased its position in shares of Texas Ventures Acquisition III by 11.5% during the 4th quarter. Governors Lane LP now owns 468,058 shares of the company's stock valued at $4,985,000 after purchasing an additional 48,258 shares during the last quarter.

Texas Ventures Acquisition III Price Performance

Shares of NASDAQ TVA opened at $10.55 on Thursday. Texas Ventures Acquisition III Corp has a 1 year low of $10.11 and a 1 year high of $12.27. The firm has a 50-day simple moving average of $10.51 and a two-hundred day simple moving average of $10.53.

Texas Ventures Acquisition III (NASDAQ:TVA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $0.17 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Texas Ventures Acquisition III from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded shares of Texas Ventures Acquisition III from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Texas Ventures Acquisition III currently has a consensus rating of "Sell".

About Texas Ventures Acquisition III

Texas Ventures Acquisition III NASDAQ: TVA is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank‑check company, its principal business purpose is to raise capital in the public markets and use those proceeds to identify, negotiate and consummate one or more business combinations with an operating company.

Unlike an operating company, Texas Ventures Acquisition III does not produce goods or services while it searches for a target. Its activities typically include managing the capital held in trust, conducting diligence on prospective acquisition candidates, negotiating transaction terms, and seeking shareholder and regulatory approvals required to complete a business combination.

Pending completion of a business combination, the company's prospects and ultimate strategy are driven by its management and sponsors; specific target industries, geographies and leadership details are disclosed through the company's public filings and press releases as opportunities develop.

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