125,000 Shares in Chenghe Acquisition III Co. $CHEC Purchased by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chenghe Acquisition III Co. (NASDAQ:CHEC) in the fourth quarter, HoldingsChannel reports. The firm bought 125,000 shares of the company’s stock, valued at approximately $1,248,000.

A number of other institutional investors also recently bought and sold shares of CHEC. Picton Mahoney Asset Management bought a new stake in Chenghe Acquisition III in the fourth quarter worth $9,970,000. Hudson Bay Capital Management LP purchased a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at $6,487,000. Berkley W R Corp purchased a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at $5,689,000. Periscope Capital Inc. bought a new stake in shares of Chenghe Acquisition III in the 4th quarter worth about $2,383,000. Finally, Clear Street Group Inc. purchased a new position in shares of Chenghe Acquisition III during the 4th quarter worth about $1,638,000.

Wall Street Analyst Weigh In

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

Chenghe Acquisition III Price Performance

Shares of CHEC stock opened at $10.17 on Tuesday. The business’s 50 day simple moving average is $10.12. Chenghe Acquisition III Co. has a 52-week low of $9.91 and a 52-week high of $10.56.

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

Chenghe Acquisition III Profile

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.