China Telecom Co. Limited (NYSE:CHA) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 111,900 shares, a decrease of 48.4% from the September 15th total of 216,700 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 40,300 shares, the short-interest ratio is presently 2.8 days.
Several equities research analysts have weighed in on CHA shares. UBS Group raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research report on Thursday, September 26th. Zacks Investment Research raised shares of China Telecom from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Citigroup raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $57.95.
CHA traded up $0.03 during trading on Monday, hitting $44.34. 37,200 shares of the stock traded hands, compared to its average volume of 39,610. The firm has a market capitalization of $35.69 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.36 and a beta of 0.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.30 and a quick ratio of 0.29. The firm has a 50-day moving average of $45.84 and a 200 day moving average of $47.86. China Telecom has a 12-month low of $42.34 and a 12-month high of $57.09.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Aperio Group LLC boosted its position in China Telecom by 15.0% during the 2nd quarter. Aperio Group LLC now owns 681,879 shares of the utilities provider’s stock valued at $34,114,000 after buying an additional 88,931 shares during the period. Acadian Asset Management LLC boosted its position in China Telecom by 23.6% during the 2nd quarter. Acadian Asset Management LLC now owns 69,906 shares of the utilities provider’s stock valued at $3,495,000 after buying an additional 13,331 shares during the period. Parametric Portfolio Associates LLC boosted its position in China Telecom by 3.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 68,613 shares of the utilities provider’s stock valued at $3,433,000 after buying an additional 2,225 shares during the period. Northern Trust Corp lifted its position in shares of China Telecom by 1.1% in the 2nd quarter. Northern Trust Corp now owns 48,561 shares of the utilities provider’s stock worth $2,429,000 after purchasing an additional 508 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of China Telecom in the 2nd quarter worth about $2,345,000. 0.48% of the stock is owned by institutional investors and hedge funds.
China Telecom Company Profile
China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.
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