Flame Acquisition Corp. (NYSE:FLME) Major Shareholder Global Icav Pilgrim Sells 147,916 Shares

Flame Acquisition Corp. (NYSE:FLME – Get Rating) major shareholder Global Icav Pilgrim sold 147,916 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $10.17, for a total transaction of $1,504,305.72. Following the completion of the sale, the insider now owns 2,059,532 shares in the company, valued at $20,945,440.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 19th, Global Icav Pilgrim sold 31,069 shares of Flame Acquisition stock. The shares were sold at an average price of $10.15, for a total transaction of $315,350.35.
• 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 value 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 value 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 Performance

NYSE:FLME traded down $0.01 during trading hours on Friday, hitting $10.16. The company’s stock had a trading volume of 507,912 shares, compared to its average volume of 147,802. The stock has a fifty day moving average of $10.15 and a 200-day moving average of $10.11. Flame Acquisition Corp. has a 52-week low of $9.75 and a 52-week high of $10.47.

Institutional Trading of Flame Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in FLME. Bank of Montreal Can purchased a new position in shares of Flame Acquisition during the first quarter worth approximately $285,000. Kohlberg Kravis Roberts & Co. L.P. raised its position in Flame Acquisition by 9.9% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 89,594 shares of the company’s stock worth $874,000 after acquiring an additional 8,106 shares in the last quarter. Bank of America Corp DE grew its position in Flame Acquisition by 140,000.0% during the first quarter. Bank of America Corp DE now owns 560,400 shares of the company’s stock worth $5,464,000 after buying an additional 560,000 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Flame Acquisition by 261.2% in the second quarter. Cubist Systematic Strategies LLC now owns 181,207 shares of the company’s stock valued at $1,774,000 after buying an additional 131,044 shares in the last quarter. Finally, Centiva Capital LP lifted its position in Flame Acquisition by 38.3% during the second quarter. Centiva Capital LP now owns 107,726 shares of the company’s stock worth $1,055,000 after buying an additional 29,811 shares during the period. 66.78% of the stock is owned by hedge funds and other institutional investors.

About Flame Acquisition

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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.