Flame Acquisition Corp. (NYSE:FLME) Major Shareholder Global Icav Pilgrim Sells 31,069 Shares

Flame Acquisition Corp. (NYSE:FLME – Get Rating) major shareholder Global Icav Pilgrim sold 31,069 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $10.15, for a total transaction of $315,350.35. Following the completion of the transaction, the insider now directly owns 2,344,704 shares of the company’s stock, valued at $23,798,745.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Global Icav Pilgrim also recently made the following trade(s):

• On Monday, May 22nd, Global Icav Pilgrim sold 40,603 shares of Flame Acquisition stock. The stock was sold at an average price of $10.16, for a total transaction of $412,526.48.
• On Friday, May 12th, Global Icav Pilgrim sold 5,500 shares of Flame Acquisition stock. The stock was sold at an average price of $10.15, for a total transaction of $55,825.00.
• On Wednesday, May 10th, Global Icav Pilgrim sold 21,763 shares of Flame Acquisition stock. The stock was sold at an average price of $10.15, for a total transaction of $220,894.45.
• On Monday, May 8th, Global Icav Pilgrim sold 31,283 shares of Flame Acquisition stock. The shares were sold at an average price of $10.15, for a total transaction of $317,522.45.

Flame Acquisition Stock Down 0.1 %

Shares of NYSE FLME opened at $10.17 on Friday. Flame Acquisition Corp. has a fifty-two week low of $9.75 and a fifty-two week high of $10.47. The company has a 50 day simple moving average of $10.15 and a two-hundred day simple moving average of $10.11.

Hedge Funds Weigh In On Flame Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in FLME. Elequin Capital LP bought a new position in shares of Flame Acquisition during the third quarter valued at approximately $31,000. Edge Capital Group LLC bought a new stake in shares of Flame Acquisition during the first quarter valued at approximately $101,000. Glazer Capital LLC increased its position in shares of Flame Acquisition by 21.6% during the third quarter. Glazer Capital LLC now owns 12,280 shares of the company’s stock valued at $121,000 after acquiring an additional 2,180 shares in the last quarter. Jane Street Group LLC purchased a new stake in Flame Acquisition in the third quarter worth approximately $158,000. Finally, Boothbay Fund Management LLC boosted its holdings in Flame Acquisition by 70.6% in the first quarter. Boothbay Fund Management LLC now owns 17,471 shares of the company’s stock worth $177,000 after purchasing an additional 7,233 shares during the last quarter. Institutional investors own 66.78% of the company’s stock.

Flame Acquisition Company Profile

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Flame Acquisition Corp. does not have significant operations. The focuses on effecting into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to identify, acquire, and operate a business in the energy industry primarily upstream exploration and production sector, and midstream sector and companies.