Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) Stock: Insider Alpine Global Management, Llc Sells 5,382 Shares

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) major shareholder Alpine Global Management, Llc sold 5,382 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $11.10, for a total value of $59,740.20. Following the transaction, the insider directly owned 510,183 shares in the company, valued at approximately $5,663,031.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Alpine Global Management, Llc also recently made the following trade(s):

• On Friday, November 6th, Alpine Global Management, Llc sold 80,183 shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares stock. The shares were sold at an average price of $10.89, for a total value of $873,192.87.
• On Thursday, November 5th, Alpine Global Management, Llc sold 130,000 shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares stock. The stock was sold at an average price of $10.87, for a total value of $1,413,100.00.

Newbury Street II Acquisition Corp – Class A Ordinary Shares Trading Down 0.6%

Shares of NTWO opened at $10.92 on Wednesday. The business’s fifty day moving average is $10.88 and its 200 day moving average is $10.70. Newbury Street II Acquisition Corp – Class A Ordinary Shares has a 12-month low of $10.35 and a 12-month high of $12.14.

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.04 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Newbury Street II Acquisition Corp – Class A Ordinary Shares from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newbury Street II Acquisition Corp – Class A Ordinary Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Periscope Capital Inc. purchased a new position in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares in the 3rd quarter worth approximately $1,292,000. Wealthspring Capital LLC purchased a new stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the third quarter valued at approximately $4,751,000. T3 Companies LLC purchased a new stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the third quarter valued at approximately $1,182,000. Robinson Capital Management LLC increased its position in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares by 78.7% during the second quarter. Robinson Capital Management LLC now owns 27,250 shares of the company’s stock valued at $290,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Sona Asset Management US LLC purchased a new stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the first quarter valued at approximately $1,764,000.

About Newbury Street II Acquisition Corp – Class A Ordinary Shares

Newbury Street II Acquisition Corp. is a special purpose acquisition company (SPAC), also known as a blank-check company. It was formed to pursue a merger, share exchange, asset acquisition, or other business combination with one or more operating businesses. Unlike an operating company, Newbury Street II does not offer products or services of its own. Its business activity centers on identifying and evaluating a potential target and, if a suitable transaction is completed, combining with that business.