Allianz Asset Management GmbH Makes New Investment in Chagee Holdings Limited – Sponsored ADR $CHA

Allianz Asset Management GmbH acquired a new stake in Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 422,589 shares of the company’s stock, valued at approximately $11,034,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHA. LBP AM SA purchased a new position in Chagee during the second quarter valued at approximately $1,619,000. Matthews International Capital Management LLC acquired a new stake in shares of Chagee during the 2nd quarter worth approximately $1,401,000. Finally, Franchise Capital Ltd purchased a new position in shares of Chagee during the 2nd quarter valued at approximately $4,111,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHA. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a report on Wednesday, October 8th. Macquarie assumed coverage on shares of Chagee in a research note on Friday, September 5th. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Wall Street Zen lowered Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.44.

Chagee Trading Up 1.5%

Shares of CHA stock opened at $17.36 on Wednesday. The business’s 50 day simple moving average is $18.34. Chagee Holdings Limited – Sponsored ADR has a 12-month low of $15.41 and a 12-month high of $41.80.

Chagee (NASDAQ:CHA) last issued its quarterly earnings results on Friday, August 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The business had revenue of $465.11 million during the quarter, compared to the consensus estimate of $484.14 million.

About Chagee

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees.