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

Allianz Asset Management GmbH acquired a new stake in shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 422,589 shares of the company’s stock, valued at approximately $11,034,000. Allianz Asset Management GmbH owned approximately 0.23% of Chagee at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Matthews International Capital Management LLC bought a new stake in Chagee during the second quarter valued at about $1,401,000. LBP AM SA bought a new stake in Chagee during the second quarter valued at about $1,619,000. Finally, Franchise Capital Ltd bought a new stake in Chagee during the second quarter valued at about $4,111,000.

Analysts Set New Price Targets

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

Chagee Stock Up 1.5%

Shares of CHA stock opened at $17.36 on Wednesday. The stock has a fifty day moving average price of $18.34. Chagee Holdings Limited – Sponsored ADR has a 1 year low of $15.41 and a 1 year high of $41.80.

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

Chagee Profile

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.