Shah Capital Management Raises Position in Cheer Holding, Inc. $CHR

Shah Capital Management raised its holdings in shares of Cheer Holding, Inc. (NASDAQ:CHR) by 23.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,110,000 shares of the company’s stock after acquiring an additional 404,950 shares during the period. Cheer comprises about 0.6% of Shah Capital Management’s portfolio, making the stock its 13th largest holding. Shah Capital Management owned about 0.18% of Cheer worth $3,081,000 at the end of the most recent quarter.

Separately, Groupe la Francaise purchased a new position in shares of Cheer in the first quarter worth about $117,000. 18.54% of the stock is currently owned by institutional investors.

Cheer Trading Up 3.9%

Cheer stock opened at $0.17 on Tuesday. Cheer Holding, Inc. has a 1-year low of $0.12 and a 1-year high of $3.45. The firm has a 50-day moving average of $1.02 and a 200-day moving average of $1.27.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cheer in a research report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cheer presently has an average rating of “Sell”.

Cheer Profile

Cheer Holding, Inc, through its subsidiaries, provides advertisement and content production services in the People’s Republic of China. It operates through Cheers APP Internet Business and Traditional Media Businesses segments. The company also engages in mobile and online advertising, and media and entertainment businesses.