Fortress Value Acquisition Corp. II [NYSE: FAII] stock went on an upward path that rose over 5.54% on Wednesday, amounting to a one-week price increase of more than 2.90%. The company report on June 16, 2021 that ATI Physical Therapy and Fortress Value Acquisition Corp. II Announce Approval of All Proposals at Special Meeting of Stockholders.
ATI Physical Therapy, Inc. (“ATI” or the “Company”), a portfolio company of Advent International and one of the nation’s largest providers of outpatient physical therapy services, and Fortress Value Acquisition Corp. II (“FVAC II”) (NYSE: FAII), a special purpose acquisition company, announced that at the special meeting of stockholders of FVAC II held on June 15, 2021 at 8:00 a.m., Eastern Time, virtually (the “Special Meeting”), all proposals presented at the Special Meeting, including the business combination proposal, were approved. In connection with the previously announced business combination, holders of 8,987,746 shares of Company Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), reflecting approximately 26% of outstanding Class A Common Stock, exercised their right to redeem their shares for cash at a redemption price of $10.00 per share, for an aggregate redemption amount of approximately $89.9 million.
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The market cap for the stock reached $436.80 million, with 43.12 million shares outstanding and 25.80 million shares in the current float. Compared to the average trading volume of 732.48K shares, FAII stock reached a trading volume of 2394348 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Fortress Value Acquisition Corp. II [FAII]:
Barrington Research have made an estimate for Fortress Value Acquisition Corp. II shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 09, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on May 04, 2021, representing the official price target for Fortress Value Acquisition Corp. II stock.
The Average True Range (ATR) for Fortress Value Acquisition Corp. II is set at 0.20 The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 0.00.
FAII Stock Performance Analysis:
Fortress Value Acquisition Corp. II [FAII] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.90. With this latest performance, FAII shares gained by 3.32% in over the last four-week period, additionally sinking by -0.96% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FAII stock in for the last two-week period is set at 62.23, with the RSI for the last a single of trading hit 64.61, and the three-weeks RSI is set at 58.97 for Fortress Value Acquisition Corp. II [FAII]. The present Moving Average for the last 50 days of trading for this stock 10.01, while it was recorded at 10.02 for the last single week of trading.
Insight into Fortress Value Acquisition Corp. II Fundamentals:
Fortress Value Acquisition Corp. II’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
FAII Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FAII. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortress Value Acquisition Corp. II go to 12.00%.
Fortress Value Acquisition Corp. II [FAII] Insider Position Details
There are presently around $291 million, or 82.10% of FAII stock, in the hands of institutional investors. The top three institutional holders of FAII stocks are: GLENVIEW CAPITAL MANAGEMENT, LLC with ownership of 3,202,953, which is approximately New of the company’s market cap and around 25.23% of the total institutional ownership; WEISS ASSET MANAGEMENT LP, holding 2,419,579 shares of the stock with an approximate value of $24.87 million in FAII stocks shares; and LAKEWOOD CAPITAL MANAGEMENT, LP, currently with $22.07 million in FAII stock with ownership of nearly New of the company’s market capitalization.
55 institutional holders increased their position in Fortress Value Acquisition Corp. II [NYSE:FAII] by around 17,097,700 shares. Additionally, 44 investors decreased positions by around 10,378,380 shares, while 3 investors held positions by with 789,428 shares. The mentioned changes placed institutional holdings at 28,265,508 shares, according to the latest SEC report filing. FAII stock had 43 new institutional investments in for a total of 14,266,127 shares, while 26 institutional investors sold positions of 7,437,668 shares during the same period.