Highbridge Capital Management LLC Buys New Position in A Paradise Acquisition Corp. $APAD

Highbridge Capital Management LLC bought a new stake in shares of A Paradise Acquisition Corp. (NASDAQ:APAD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 884,351 shares of the company’s stock, valued at approximately $8,888,000. Highbridge Capital Management LLC owned approximately 4.29% of A Paradise Acquisition as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wolverine Asset Management LLC grew its position in shares of A Paradise Acquisition by 23.9% in the fourth quarter. Wolverine Asset Management LLC now owns 719,819 shares of the company’s stock valued at $7,234,000 after purchasing an additional 138,819 shares during the period. Wealthspring Capital LLC acquired a new position in A Paradise Acquisition during the fourth quarter worth about $6,911,000. Finally, Geode Capital Management LLC acquired a new position in A Paradise Acquisition during the fourth quarter worth about $263,000.

A Paradise Acquisition Stock Performance

APAD opened at $8.03 on Friday. A Paradise Acquisition Corp. has a twelve month low of $7.50 and a twelve month high of $14.00. The stock’s 50-day simple moving average is $9.29.

A Paradise Acquisition (NASDAQ:APAD) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.08 earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of A Paradise Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, A Paradise Acquisition has a consensus rating of “Sell”.

A Paradise Acquisition Profile

A Paradise Acquisition (NASDAQ: APAD) is a special-purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that was formed to raise capital through a public listing with the purpose of effecting a business combination. As a SPAC, it does not operate an ongoing commercial business; instead, its primary activity is to identify, negotiate and complete a merger, share exchange, asset acquisition, recapitalization or other business combination with one or more target companies.

Like other acquisition companies, A Paradise Acquisition’s typical activities include sourcing potential targets, conducting due diligence and arranging the financing structures needed to complete a transaction.