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

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

A number of other hedge funds have also recently modified their holdings of CHEC. Gladius Capital Management LP purchased a new stake in Chenghe Acquisition III in the 4th quarter worth approximately $150,000. K2 Principal Fund L.P. purchased a new stake in shares of Chenghe Acquisition III in the fourth quarter worth $805,000. Context Capital Management LLC bought a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at $1,357,000. MMCAP International Inc. SPC purchased a new position in shares of Chenghe Acquisition III during the 4th quarter valued at $1,496,000. Finally, Mint Tower Capital Management B.V. bought a new stake in Chenghe Acquisition III during the fourth quarter valued at about $1,496,000.

Chenghe Acquisition III Price Performance

NASDAQ CHEC opened at $10.17 on Tuesday. Chenghe Acquisition III Co. has a 1-year low of $9.91 and a 1-year high of $10.56. The company’s 50 day moving average price is $10.12.

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

Analysts Set New Price Targets

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

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.