An affiliate of institutional investor, GIC Private Limited (GIC), Arran Investments Pte. Ltd. is buying primary shares of ACEN and secondary ACEN shares of AC Energy, Inc. at a price of 2.97 a share. The market as of 02 February 2021 has priced ACEN at 7.60 a share.
GIC is no ordinary institutional investor, it is one of the two sovereign wealth funds of the Republic of Singapore. GIC is not buying the market price of ACEN. It will be acquiring ACEN at 2.97 a share.
As of 31 October 2020, top institutional holders of ACEN as reported just held 0.48% of the company. Notable among the institutional shareholders is ATR Asset Management, Inc. (ATRAM). ATRAM was holding around 6.53 million shares or .05% of ACEN at that time as reported.
As of 28 January 2021, top institutional holders of ACEN as reported just held 0.49% of the company, a meager improvement from 31 October 2020. Noticeably absent among the top institutional shareholders is ATRAM. An examination of the top movers of ACEN showed ATRAM disposing 100% of its ACEN holdings.
It seems like ACEN is dancing to the tune of the retail trader crowd.
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This analysis is an independent viewpoint on publicly traded stocks in the Philippine market. Accuretti Systems Inc. trades stocks in the Philippine market.