Stock analysts at DA Davidson began coverage on shares of Legato Merger Corp. II (NASDAQ:LGTO – Get Rating) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $13.00 price target on the stock. DA Davidson's target price would suggest a potential upside of 29.61% from the stock's current price.

Legato Merger Corp. II Stock Down 0.1 %

Shares of Legato Merger Corp. II stock opened at $10.03 on Monday. Legato Merger Corp. II has a 12-month low of $9.73 and a 12-month high of $10.15. The company has a 50-day moving average of $9.97 and a two-hundred day moving average of $9.95.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LGTO. Calamos Advisors LLC acquired a new position in shares of Legato Merger Corp. II in the 2nd quarter valued at $14,880,000. First Trust Capital Management L.P. boosted its holdings in shares of Legato Merger Corp. II by 131.3% in the 3rd quarter. First Trust Capital Management L.P. now owns 2,140,325 shares of the company's stock valued at $21,275,000 after buying an additional 1,215,000 shares during the period. Context Capital Management LLC acquired a new position in shares of Legato Merger Corp. II in the 1st quarter valued at about $7,440,000. Bank of Montreal Can acquired a new position in Legato Merger Corp. II during the 2nd quarter valued at about $7,449,000. Finally, Castle Creek Arbitrage LLC bought a new stake in shares of Legato Merger Corp. II in the 2nd quarter worth approximately $5,538,000.

Legato Merger Corp. II Company Profile

Legato Merger Corp. II does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on businesses in the infrastructure, engineering and construction, industrial, and renewables industries.

Further Reading

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