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

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 125,000 shares of the company’s stock, valued at approximately $1,248,000.

A number of other hedge funds have also modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Chenghe Acquisition III in the 4th quarter valued at $377,000. Alberta Investment Management Corp acquired a new position in Chenghe Acquisition III during the fourth quarter worth $4,990,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Chenghe Acquisition III during the fourth quarter valued at $4,985,000. Millennium Management LLC acquired a new stake in shares of Chenghe Acquisition III in the 4th quarter valued at $2,393,000. Finally, Moore Capital Management LP acquired a new stake in shares of Chenghe Acquisition III in the 4th quarter valued at $3,988,000.

Chenghe Acquisition III Trading Down 0.0%

Shares of CHEC stock opened at $10.16 on Friday. Chenghe Acquisition III Co. has a 52 week low of $9.91 and a 52 week high of $10.56. The business’s fifty day simple moving average is $10.12.

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

Analyst Upgrades and Downgrades

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

About Chenghe Acquisition III

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.