Berkley W R Corp Reduces Stake in AlphaVest Acquisition Corp

Berkley W R Corp has decreased its investment in AlphaVest Acquisition Corp (NASDAQ:ATMV) by 17.4% during the third quarter, as reported in its latest filing with the SEC. Following this adjustment, the institutional investor now holds 345,658 shares of AlphaVest after selling 72,627 shares in this period. At the conclusion of the most recent quarter, Berkley W R Corp was valued at approximately $3,851,000 in terms of its AlphaVest shares, accounting for 4.93% ownership of the company.

In addition to Berkley W R Corp, other institutional investors have also adjusted their positions in AlphaVest. Cowen and Company LLC increased its stake by 68.8% in the second quarter, now owning 278,202 shares worth $3,069,000 after acquiring an additional 113,410 shares. Spartan Fund Management Inc. entered a new position in AlphaVest during the third quarter, approximately valued at $546,000. Mizuho Securities USA LLC has significantly expanded its position by 108.7% during the same quarter, owning 560,368 shares valued at $6,220,000 after increasing its holdings by 291,908 shares. Crossingbridge Advisors LLC and Glazer Capital LLC also made significant adjustments, with Glazer raising its stake by 16.1%, thus owning 267,330 shares worth $2,978,000 after buying an extra 37,067 shares. Currently, hedge funds and other institutional investors hold about 46.08% of AlphaVest’s stock.

AlphaVest Acquisition Stock Performance

The stock price of AlphaVest Acquisition Corp opened at $11.25 on Friday. It has a fifty-day simple moving average of $11.20 and a 200-day simple moving average of $11.12. Over the past year, the stock reached a low of $10.64 and a high of $11.25.

About AlphaVest Acquisition Corp

AlphaVest Acquisition Corp is a special purpose acquisition company that does not have substantial operations yet. Its focus is on facilitating mergers, stock exchanges, acquisitions, and other business combinations with one or more companies. The company was established in 2022 and is headquartered in New York, New York.

Investment Considerations

Before investing in AlphaVest Acquisition, investors may want to review the recommendations of analysts. Currently, AlphaVest Acquisition holds a "Hold" rating, indicating that there might be alternative investment opportunities that could yield better returns.

If you are looking for alternative investment options, research analysts have pointed out five stocks that are considered to have more potential than AlphaVest Acquisition.

Berkley, Stocks, Investments