Sports Entertainment Acquisition (NYSE:SEAH) Sees Large Volume Increase

Sports Entertainment Acquisition Corp. (NYSE:SEAH) saw unusually-high trading volume on Thursday . Approximately 80,497 shares traded hands during mid-day trading, a decline of 88% from the previous session’s volume of 657,963 shares.The stock last traded at $9.98 and had previously closed at $9.93.

Separately, Benchmark initiated coverage on Sports Entertainment Acquisition in a research note on Tuesday, November 30th. They issued a “buy” rating and a $16.00 price objective for the company.

The firm has a 50 day moving average price of $10.48 and a 200-day moving average price of $10.20.

A number of hedge funds have recently bought and sold shares of the stock. Antara Capital LP purchased a new stake in Sports Entertainment Acquisition in the second quarter valued at approximately $3,731,000. Trexquant Investment LP purchased a new stake in Sports Entertainment Acquisition in the second quarter valued at approximately $149,000. Paloma Partners Management Co lifted its stake in Sports Entertainment Acquisition by 250.8% in the second quarter. Paloma Partners Management Co now owns 64,500 shares of the company’s stock valued at $650,000 after buying an additional 46,113 shares during the last quarter. ATW Spac Management LLC purchased a new stake in Sports Entertainment Acquisition in the third quarter valued at approximately $1,011,000. Finally, Bluefin Capital Management LLC purchased a new stake in Sports Entertainment Acquisition in the second quarter valued at approximately $649,000. Hedge funds and other institutional investors own 56.21% of the company’s stock.

Sports Entertainment Acquisition Company Profile (NYSE:SEAH)

Sports Entertainment Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus its search on the sports and entertainment sectors. The company was incorporated in 2020 and is based in North Palm Beach, Florida.

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