OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $1.25 Million Position in Chenghe Acquisition III Co. $CHEC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chenghe Acquisition III Co. (NASDAQ:CHEC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 125,000 shares of the company’s stock, valued at approximately $1,248,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gladius Capital Management LP bought a new stake in Chenghe Acquisition III in the fourth quarter worth $150,000. Royal Bank of Canada acquired a new stake in shares of Chenghe Acquisition III in the fourth quarter worth about $168,000. Virtu Financial LLC acquired a new stake in shares of Chenghe Acquisition III in the fourth quarter worth about $377,000. Boothbay Fund Management LLC bought a new stake in shares of Chenghe Acquisition III during the 4th quarter worth about $498,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of Chenghe Acquisition III during the 4th quarter worth about $805,000.

Chenghe Acquisition III Stock Performance

Shares of CHEC opened at $10.16 on Friday. The firm’s 50-day moving average price is $10.12. Chenghe Acquisition III Co. has a 12-month low of $9.91 and a 12-month high of $10.56.

Chenghe Acquisition III (NASDAQ:CHEC) last issued its earnings results on Wednesday, March 25th. The company reported $0.14 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Chenghe Acquisition III

Chenghe Acquisition III (NASDAQ: CHEC) is a special-purpose acquisition company, commonly known as a SPAC, that was formed to effect a business combination with one or more operating companies. As a blank‑check vehicle, the company’s primary business activity is identifying, negotiating and completing an acquisition, merger or other strategic combination rather than operating traditional, revenue‑generating businesses.

Like many SPACs, Chenghe Acquisition III holds funds in a trust account pending the completion of a qualifying business combination and typically offers public shareholders the option to redeem their shares if they do not approve a proposed transaction.