Carlyle Group Inc. Cuts Position in Smart Share Global Limited (NYSE:EM)

Key Points

• Carlyle Group Inc. has reduced its stake in Smart Share Global Limited by 9.3%, now holding approximately 4.36 million shares, which represents only 0.1% of its investment portfolio.
• MASO CAPITAL PARTNERS Ltd. has acquired a new position in Smart Share Global worth about $2.95 million, adding to the institutional ownership that constitutes 83.96% of the stock.
• Citigroup has reaffirmed a "neutral" rating for Smart Share Global and raised its target price to $1.25, which is up from a previous target of $1.00.

Carlyle Group Inc. cut its holdings in Smart Share Global Limited (NYSE:EM - Free Report) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,362,929 shares of the company's stock after selling 447,280 shares during the quarter. Smart Share Global makes up 0.1% of Carlyle Group Inc.'s portfolio, making the stock its 10th largest position. Carlyle Group Inc. owned 1.68% of Smart Share Global worth $4,886,000 as of its most recent SEC filing.

Separately, MASO CAPITAL PARTNERS Ltd acquired a new stake in shares of Smart Share Global in the first quarter valued at $2,948,000. 83.96% of the stock is currently owned by institutional investors.

Smart Share Global Stock Down 0.4%

EM stock traded down $0.01 during midday trading on Monday, reaching $1.18. The stock had a trading volume of 21,443 shares, compared to its average volume of 401,154. The business has a fifty day simple moving average of $1.13 and a two-hundred day simple moving average of $1.12. The firm has a market cap of $297.91 million, a price-to-earnings ratio of 39.18 and a beta of 0.67. Smart Share Global Limited has a twelve month low of $0.50 and a twelve month high of $1.19.

Analyst Ratings Changes

Separately, Citigroup reiterated a "neutral" rating and issued a $1.25 price objective (up from $1.00) on shares of Smart Share Global in a research report on Wednesday, June 18th.

Smart Share Global Company Profile

Smart Share Global Limited, a consumer tech company, provides mobile device charging services in the People's Republic of China. The company provides mobile device charging services through online and offline networks; and rents power banks. It offers services through its power banks placed in points of interests (POIs) operated by its location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces.