L1 Global Manager Pty Ltd Invests $3.56 Million in Melar Acquisition Corp. I $MACI

L1 Global Manager Pty Ltd bought a new position in Melar Acquisition Corp. I (NASDAQ:MACI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 335,000 shares of the company’s stock, valued at approximately $3,561,000. Melar Acquisition Corp. I comprises approximately 2.4% of L1 Global Manager Pty Ltd’s portfolio, making the stock its 6th largest position. L1 Global Manager Pty Ltd owned about 1.65% of Melar Acquisition Corp. I at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. ABC Arbitrage SA bought a new position in Melar Acquisition Corp. I in the fourth quarter worth about $213,000. Sandia Investment Management LP bought a new position in Melar Acquisition Corp. I in the third quarter worth about $249,000. Quarry LP bought a new position in Melar Acquisition Corp. I in the third quarter worth about $249,000. BCK Capital Management LP lifted its holdings in Melar Acquisition Corp. I by 37.7% in the third quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock worth $723,000 after acquiring an additional 18,874 shares during the last quarter. Finally, Radcliffe Capital Management L.P. bought a new position in Melar Acquisition Corp. I in the second quarter worth about $3,094,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Melar Acquisition Corp. I presently has an average rating of “Sell”.

Melar Acquisition Corp. I Stock Performance

Shares of NASDAQ:MACI opened at $10.94 on Friday. The firm’s 50 day moving average is $10.84 and its two-hundred day moving average is $10.73. Melar Acquisition Corp. I has a 52 week low of $10.43 and a 52 week high of $11.38.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.04 EPS for the quarter.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.