China Telecom (NYSE:CHA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets. “
Separately, Nomura cut shares of China Telecom from a “buy” rating to a “neutral” rating in a research note on Monday.
A number of large investors have recently made changes to their positions in the stock. Aperio Group LLC increased its stake in China Telecom by 22.6% in the fourth quarter. Aperio Group LLC now owns 515,443 shares of the utilities provider’s stock valued at $24,468,000 after acquiring an additional 94,957 shares during the last quarter. Renaissance Technologies LLC increased its stake in China Telecom by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 263,000 shares of the utilities provider’s stock valued at $12,485,000 after acquiring an additional 56,000 shares during the last quarter. Deutsche Bank AG increased its stake in China Telecom by 78.5% in the fourth quarter. Deutsche Bank AG now owns 83,256 shares of the utilities provider’s stock valued at $3,952,000 after acquiring an additional 36,625 shares during the last quarter. Two Sigma Advisers LP increased its stake in China Telecom by 50.3% in the fourth quarter. Two Sigma Advisers LP now owns 57,700 shares of the utilities provider’s stock valued at $2,739,000 after acquiring an additional 19,300 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in China Telecom by 21.7% in the fourth quarter. First Trust Advisors LP now owns 51,506 shares of the utilities provider’s stock valued at $2,445,000 after acquiring an additional 9,177 shares during the last quarter. 0.45% of the stock is currently owned by institutional investors and hedge funds.
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China Telecom 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.
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