Corvex Management LP Makes New $4.32 Million Investment in Acies Acquisition Corp. (NASDAQ:ACAC)

Corvex Management LP acquired a new stake in Acies Acquisition Corp. (NASDAQ:ACAC) during the first quarter, HoldingsChannel.com reports. The fund acquired 433,819 shares of the company’s stock, valued at approximately $4,316,000.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of Acies Acquisition in the 1st quarter valued at $27,000. UBS Group AG bought a new stake in shares of Acies Acquisition in the 1st quarter valued at $27,000. Royal Bank of Canada bought a new stake in shares of Acies Acquisition in the 1st quarter valued at $44,000. Black Maple Capital Management LP bought a new stake in shares of Acies Acquisition in the 1st quarter valued at $99,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Acies Acquisition in the 4th quarter valued at $150,000. 49.84% of the stock is currently owned by institutional investors.

NASDAQ ACAC traded down $0.08 on Thursday, hitting $6.80. 133,244 shares of the company were exchanged, compared to its average volume of 391,485. The stock’s fifty day moving average is $8.78. Acies Acquisition Corp. has a 12 month low of $7.87 and a 12 month high of $13.20.

A number of equities research analysts have recently commented on ACAC shares. Craig Hallum started coverage on shares of Acies Acquisition in a research note on Monday, April 26th. They issued a “buy” rating and a $15.00 price objective on the stock. Benchmark started coverage on shares of Acies Acquisition in a research note on Tuesday, April 20th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Northland Securities started coverage on shares of Acies Acquisition in a research note on Tuesday, May 11th. They set an “outperform” rating and a $15.00 target price on the stock.

Acies Acquisition Company Profile

Acies Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in Manhattan Beach, California.

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Institutional Ownership by Quarter for Acies Acquisition (NASDAQ:ACAC)

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