Key Points
- Director Mark Angelo bought 125,000 shares of Texas Ventures Acquisition III at $10.48 each, a transaction worth $1.31 million. After the purchase, he owned 1,050,000 shares, increasing his position by 13.51%.
- The stock was trading around $10.48, roughly flat on the day, and sits near its 50-day and 200-day moving averages. Its 52-week range is $10.06 to $12.27.
- Analyst sentiment remains weak, with the current consensus rating at Sell. Recent notes included a downgrade from hold to sell and another move from sell (d-) to sell (d).
Texas Ventures Acquisition III Corp (NASDAQ:TVA - Get Free Report) Director Mark Angelo bought 125,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average cost of $10.48 per share, for a total transaction of $1,310,000.00. Following the completion of the transaction, the director directly owned 1,050,000 shares of the company's stock, valued at approximately $11,004,000. The trade was a 13.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Texas Ventures Acquisition III Stock Down 0.3%
NASDAQ:TVA opened at $10.48 on Tuesday. The firm's 50 day moving average is $10.48 and its two-hundred day moving average is $10.54. Texas Ventures Acquisition III Corp has a fifty-two week low of $10.06 and a fifty-two week high of $12.27.
Texas Ventures Acquisition III (NASDAQ:TVA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The company reported $0.17 earnings per share (EPS) for the quarter.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Weiss Ratings upgraded Texas Ventures Acquisition III from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, June 1st. Wall Street Zen lowered Texas Ventures Acquisition III from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Texas Ventures Acquisition III presently has a consensus rating of "Sell".
Read Our Latest Analysis on Texas Ventures Acquisition III
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Mercuria Capital Strategies LLC acquired a new stake in shares of Texas Ventures Acquisition III in the fourth quarter valued at about $5,325,000. Lincoln Capital Corp acquired a new position in Texas Ventures Acquisition III during the 1st quarter worth approximately $520,000. Fifth Lane Capital LP purchased a new position in Texas Ventures Acquisition III in the 4th quarter worth approximately $952,000. Governors Lane LP grew its position in Texas Ventures Acquisition III by 11.5% in the fourth quarter. Governors Lane LP now owns 468,058 shares of the company's stock valued at $4,985,000 after acquiring an additional 48,258 shares in the last quarter. Finally, Rivernorth Capital Management LLC raised its stake in shares of Texas Ventures Acquisition III by 33.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company's stock valued at $4,233,000 after purchasing an additional 100,000 shares during the period.
About Texas Ventures Acquisition III
(
Get Free Report)
Texas Ventures Acquisition III (NASDAQ: TVA) is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank‑check company, its principal business purpose is to raise capital in the public markets and use those proceeds to identify, negotiate and consummate one or more business combinations with an operating company.
Unlike an operating company, Texas Ventures Acquisition III does not produce goods or services while it searches for a target. Its activities typically include managing the capital held in trust, conducting diligence on prospective acquisition candidates, negotiating transaction terms, and seeking shareholder and regulatory approvals required to complete a business combination.
Pending completion of a business combination, the company's prospects and ultimate strategy are driven by its management and sponsors; specific target industries, geographies and leadership details are disclosed through the company's public filings and press releases as opportunities develop.
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