Migdal Insurance & Financial Holdings Ltd. Sells 1,350 Shares of China Telecom Corp Ltd (CHA)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in China Telecom Corp Ltd (NYSE:CHA) by 39.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,040 shares of the utilities provider’s stock after selling 1,350 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in China Telecom Corp were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CHA. Tudor Investment Corp ET AL lifted its stake in China Telecom Corp by 475.0% in the second quarter. Tudor Investment Corp ET AL now owns 115,000 shares of the utilities provider’s stock valued at $5,512,000 after buying an additional 95,000 shares during the last quarter. Aperio Group LLC raised its stake in shares of China Telecom Corp by 25.5% during the third quarter. Aperio Group LLC now owns 420,486 shares of the utilities provider’s stock valued at $21,495,000 after purchasing an additional 85,566 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of China Telecom Corp by 11.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 258,261 shares of the utilities provider’s stock valued at $12,378,000 after purchasing an additional 26,872 shares in the last quarter. Bank of Montreal Can raised its stake in shares of China Telecom Corp by 274.0% during the second quarter. Bank of Montreal Can now owns 28,217 shares of the utilities provider’s stock valued at $1,352,000 after purchasing an additional 20,672 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of China Telecom Corp during the second quarter valued at about $632,000. Institutional investors own 0.43% of the company’s stock.

Shares of China Telecom Corp Ltd (NYSE:CHA) traded up $0.43 during midday trading on Monday, hitting $50.19. 35,500 shares of the company were exchanged, compared to its average volume of 36,950. China Telecom Corp Ltd has a fifty-two week low of $45.58 and a fifty-two week high of $53.78. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.03.

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A number of equities research analysts recently weighed in on CHA shares. Bank of America Corporation started coverage on shares of China Telecom Corp in a research note on Wednesday, August 30th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of China Telecom Corp from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Monday, August 28th. Finally, BidaskClub upgraded shares of China Telecom Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.00.

China Telecom Corp Company Profile

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.

Institutional Ownership by Quarter for China Telecom Corp (NYSE:CHA)

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