AQR Arbitrage LLC Invests $3.70 Million in Pelican Acquisition Corporation $PELI

AQR Arbitrage LLC acquired a new stake in Pelican Acquisition Corporation (NASDAQ:PELI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 370,000 shares of the company’s stock, valued at approximately $3,700,000. AQR Arbitrage LLC owned about 3.53% of Pelican Acquisition at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Warberg Asset Management LLC acquired a new position in Pelican Acquisition in the 2nd quarter valued at approximately $500,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Pelican Acquisition during the 2nd quarter worth $1,000,000. Mint Tower Capital Management B.V. acquired a new position in Pelican Acquisition during the 2nd quarter worth about $1,505,000. Magnetar Financial LLC bought a new stake in shares of Pelican Acquisition in the 2nd quarter valued at about $1,951,000. Finally, Shaolin Capital Management LLC bought a new stake in shares of Pelican Acquisition in the 2nd quarter valued at about $2,758,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Pelican Acquisition in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Pelican Acquisition Price Performance

Shares of Pelican Acquisition stock opened at $10.16 on Friday. The stock’s 50-day simple moving average is $10.12. Pelican Acquisition Corporation has a 1-year low of $8.98 and a 1-year high of $10.19.

Pelican Acquisition (NASDAQ:PELI) last announced its earnings results on Monday, September 15th. The company reported $0.03 EPS for the quarter.

About Pelican Acquisition

We are a newly formed blank check company incorporated as a Cayman Islands exempted company on July 23, 2024 under the laws of the Cayman Islands with limited liability, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination.