Key Points
- Alpine Global Management sold 80,183 NTWO shares on November 6 at an average price of $10.89, for about $873,193, reducing its stake by 21.09%.
- After the sale, Alpine directly owned 300,000 shares valued at approximately $3.27 million. It had also sold 5,382 shares on November 4 and 130,000 shares on November 5.
- NTWO’s consensus rating is Sell, based on one analyst rating; the stock opened at $10.99, near its 50-day average of $10.88.
Newbury Street II Acquisition Corp - Class A Ordinary Shares (NASDAQ:NTWO - Get Free Report) major shareholder Alpine Global Management, Llc sold 80,183 shares of the business's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $10.89, for a total value of $873,192.87. Following the completion of the transaction, the insider directly owned 300,000 shares of the company's stock, valued at $3,267,000. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Alpine Global Management, Llc also recently made the following trade(s):
- On Wednesday, November 4th, Alpine Global Management, Llc sold 5,382 shares of Newbury Street II Acquisition Corp - Class A Ordinary Shares stock. The stock was sold at an average price of $11.10, for a total value of $59,740.20.
- 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 transaction of $1,413,100.00.
Newbury Street II Acquisition Corp - Class A Ordinary Shares Stock Down 0.1%
NASDAQ:NTWO opened at $10.99 on Tuesday. The company has a 50 day moving average price of $10.88 and a 200-day moving average price of $10.70. Newbury Street II Acquisition Corp - Class A Ordinary Shares has a 1-year low of $10.35 and a 1-year high of $12.14.
Newbury Street II Acquisition Corp - Class A Ordinary Shares (NASDAQ:NTWO - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter.
Hedge Funds Weigh In On Newbury Street II Acquisition Corp - Class A Ordinary Shares
Several institutional investors and hedge funds have recently modified their holdings of NTWO. Periscope Capital Inc. acquired a new position in Newbury Street II Acquisition Corp - Class A Ordinary Shares in the 3rd quarter worth about $1,292,000. Wealthspring Capital LLC purchased a new position in Newbury Street II Acquisition Corp - Class A Ordinary Shares during the third quarter worth approximately $4,751,000. T3 Companies LLC purchased a new position in Newbury Street II Acquisition Corp - Class A Ordinary Shares during the third quarter worth approximately $1,182,000. Robinson Capital Management LLC boosted its position in 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 worth $290,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Sona Asset Management US LLC acquired a new stake in Newbury Street II Acquisition Corp - Class A Ordinary Shares in the first quarter valued at approximately $1,764,000.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of 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 equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of "Sell".
Check Out Our Latest Report on NTWO
About Newbury Street II Acquisition Corp - Class A Ordinary Shares
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