Insider Selling: Screaming Eagle Acquisition Corp. (NASDAQ:SCRM) Major Shareholder Sells 1,250,000 Shares of Stock

Screaming Eagle Acquisition Corp. (NASDAQ:SCRM) major shareholder Alberta Investment Management sold 1,250,000 shares of Screaming Eagle Acquisition stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $10.78, for a total value of $13,475,000.00. Following the completion of the transaction, the insider now directly owns 1,325,000 shares of the company’s stock, valued at $14,283,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Screaming Eagle Acquisition Price Performance

NASDAQ:SCRM remained flat at $10.77 during mid-day trading on Tuesday. 51,101 shares of the company’s stock were exchanged, compared to its average volume of 817,796. Screaming Eagle Acquisition Corp. has a 12-month low of $10.06 and a 12-month high of $11.07. The firm’s 50 day moving average is $10.68 and its two-hundred day moving average is $10.60.

Hedge Funds Weigh In On Screaming Eagle Acquisition

A number of large investors have recently modified their holdings of the stock. Flow State Investments L.P. raised its position in Screaming Eagle Acquisition by 69.3% in the 4th quarter. Flow State Investments L.P. now owns 433,200 shares of the company’s stock worth $4,592,000 after purchasing an additional 177,300 shares during the last quarter. Berkley W R Corp bought a new stake in shares of Screaming Eagle Acquisition during the fourth quarter worth $26,060,000. Bulldog Investors LLP lifted its stake in shares of Screaming Eagle Acquisition by 38.8% during the fourth quarter. Bulldog Investors LLP now owns 1,122,857 shares of the company’s stock valued at $11,860,000 after acquiring an additional 314,156 shares during the period. ADAR1 Capital Management LLC bought a new position in Screaming Eagle Acquisition in the fourth quarter valued at about $318,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Screaming Eagle Acquisition by 205.9% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 315,879 shares of the company’s stock worth $3,348,000 after purchasing an additional 212,629 shares during the period. 73.98% of the stock is currently owned by institutional investors and hedge funds.

Screaming Eagle Acquisition Company Profile

Screaming Eagle Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.