221,478 Shares in Galata Acquisition Corp. II $LATA Purchased by Mangrove Partners IM LLC

Mangrove Partners IM LLC purchased a new position in shares of Galata Acquisition Corp. II (NASDAQ:LATA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 221,478 shares of the company’s stock, valued at approximately $2,206,000. Mangrove Partners IM LLC owned 0.96% of Galata Acquisition Corp. II as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Condor Capital Management bought a new position in Galata Acquisition Corp. II during the fourth quarter worth about $140,000. Deltec Asset Management LLC bought a new position in Galata Acquisition Corp. II during the fourth quarter worth about $149,000. ABC Arbitrage SA bought a new position in Galata Acquisition Corp. II during the fourth quarter worth about $199,000. Wolverine Asset Management LLC bought a new position in Galata Acquisition Corp. II during the fourth quarter worth about $322,000. Finally, K2 Principal Fund L.P. bought a new position in Galata Acquisition Corp. II during the fourth quarter worth about $996,000.

Galata Acquisition Corp. II Stock Performance

LATA stock opened at $10.10 on Wednesday. Galata Acquisition Corp. II has a 12 month low of $9.91 and a 12 month high of $10.20. The firm has a 50-day moving average price of $10.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings assumed coverage on shares of Galata Acquisition Corp. II in a research report on Tuesday, May 26th. They set a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.