Championsgate Acquisition (NASDAQ:CHPG) Trading 0.1% Higher – Here’s Why

Championsgate Acquisition Corp (NASDAQ:CHPG) shares shot up 0.1% on Wednesday . The stock traded as high as $10.42 and last traded at $10.4350. 13,367 shares were traded during trading, an increase of 432% from the average session volume of 2,511 shares. The stock had previously closed at $10.42.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Championsgate Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Championsgate Acquisition Price Performance

The company’s 50-day simple moving average is $10.38.

Championsgate Acquisition (NASDAQ:CHPG) last released its quarterly earnings data on Friday, May 15th. The company reported $0.06 EPS for the quarter. The business had revenue of $0.68 million during the quarter.

Institutional Trading of Championsgate Acquisition

Several institutional investors and hedge funds have recently modified their holdings of CHPG. First Trust Capital Management L.P. grew its position in shares of Championsgate Acquisition by 3.5% in the fourth quarter. First Trust Capital Management L.P. now owns 514,174 shares of the company’s stock valued at $5,239,000 after purchasing an additional 17,239 shares during the last quarter. Wolverine Asset Management LLC increased its stake in shares of Championsgate Acquisition by 12.2% during the 4th quarter. Wolverine Asset Management LLC now owns 405,194 shares of the company’s stock worth $4,129,000 after purchasing an additional 44,069 shares in the last quarter. Sona Asset Management US LLC acquired a new position in shares of Championsgate Acquisition during the 1st quarter worth approximately $3,716,000. Clear Street Group Inc. raised its position in shares of Championsgate Acquisition by 15.8% during the 4th quarter. Clear Street Group Inc. now owns 297,430 shares of the company’s stock worth $3,031,000 after purchasing an additional 40,601 shares during the last quarter. Finally, Rivernorth Capital Management LLC lifted its stake in Championsgate Acquisition by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 149,062 shares of the company’s stock valued at $1,519,000 after buying an additional 37,500 shares in the last quarter.

About Championsgate Acquisition

Championsgate Acquisition (NASDAQ: CHPG) is a publicly traded special purpose acquisition company (SPAC) formed to raise capital and effect a business combination with one or more operational businesses. As a blank‑check acquisition vehicle, its primary corporate purpose is to identify, negotiate and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination that would bring a private operating company into the public markets through the SPAC structure.

Like other SPACs, Championsgate Acquisition’s activities center on sourcing potential targets, conducting due diligence, structuring transaction terms and securing shareholder approval for proposed business combinations.