MMCAP International Inc. SPC Makes New $14.10 Million Investment in Inflection Point Acquisition Corp. III $IPCX

MMCAP International Inc. SPC purchased a new stake in shares of Inflection Point Acquisition Corp. III (NASDAQ:IPCX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,400,000 shares of the company’s stock, valued at approximately $14,098,000. Inflection Point Acquisition Corp. III makes up 1.6% of MMCAP International Inc. SPC’s investment portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wolverine Asset Management LLC lifted its stake in shares of Inflection Point Acquisition Corp. III by 63.8% during the third quarter. Wolverine Asset Management LLC now owns 164,698 shares of the company’s stock worth $1,659,000 after buying an additional 64,126 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Inflection Point Acquisition Corp. III in the 2nd quarter valued at $4,848,000. Wealthspring Capital LLC purchased a new position in Inflection Point Acquisition Corp. III in the 3rd quarter worth $5,357,000. Finally, JPMorgan Chase & Co. acquired a new stake in Inflection Point Acquisition Corp. III during the 3rd quarter worth about $16,747,000.

Inflection Point Acquisition Corp. III Price Performance

Shares of Inflection Point Acquisition Corp. III stock opened at $10.16 on Monday. The business’s fifty day simple moving average is $10.15. Inflection Point Acquisition Corp. III has a 1 year low of $10.05 and a 1 year high of $10.35.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Inflection Point Acquisition Corp. III in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Inflection Point Acquisition Corp. III Profile

Inflection Point Acquisition Corp. III (NASDAQ: IPCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that is organized to raise capital through a public offering for the purpose of effecting a merger, acquisition, capital stock exchange, asset purchase, reorganization or similar business combination. As a SPAC, it does not operate a conventional operating business; instead, its principal objective is to identify and combine with one or more operating businesses that will become publicly listed through the transaction.

Like many SPACs, Inflection Point Acquisition Corp.