Fir Tree Capital Management LP Takes Position in Powered Brands (NASDAQ:POW)

Fir Tree Capital Management LP bought a new stake in Powered Brands (NASDAQ:POW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 450,000 shares of the company’s stock, valued at approximately $4,365,000. Fir Tree Capital Management LP owned approximately 1.50% of Powered Brands at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of POW. Exos Asset Management LLC acquired a new position in shares of Powered Brands in the 1st quarter valued at approximately $128,000. Alliancebernstein L.P. acquired a new position in shares of Powered Brands in the 1st quarter valued at approximately $526,000. Basso Capital Management L.P. acquired a new position in shares of Powered Brands in the 1st quarter valued at approximately $181,000. Segantii Capital Management Ltd acquired a new position in Powered Brands during the 1st quarter worth approximately $728,000. Finally, PEAK6 Investments LLC acquired a new position in Powered Brands during the 1st quarter worth approximately $2,371,000. Institutional investors own 34.58% of the company’s stock.

POW stock opened at $9.71 on Thursday. The stock’s 50 day moving average is $9.75. Powered Brands has a 1 year low of $8.76 and a 1 year high of $10.05.

A number of research firms recently issued reports on POW. Royal Bank of Canada upped their price objective on shares of Powered Brands from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, May 17th. TD Securities upped their price objective on shares of Powered Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 12th.

Powered Brands Profile

Powered Brands 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. The company was incorporated in 2020 and is based in New York, New York.

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Institutional Ownership by Quarter for Powered Brands (NASDAQ:POW)

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