Connor Clark & Lunn Investment Management Ltd. Purchases 500,475 Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Connor Clark & Lunn Investment Management Ltd. increased its position in Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 120.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 915,853 shares of the utilities provider’s stock after buying an additional 500,475 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chunghwa Telecom were worth $36,332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CHT. Allworth Financial LP lifted its holdings in shares of Chunghwa Telecom by 40.5% in the 3rd quarter. Allworth Financial LP now owns 919 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 265 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Chunghwa Telecom by 14.2% during the second quarter. GAMMA Investing LLC now owns 2,543 shares of the utilities provider’s stock valued at $98,000 after buying an additional 317 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Chunghwa Telecom in the second quarter worth about $120,000. EverSource Wealth Advisors LLC boosted its holdings in Chunghwa Telecom by 80.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,345 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,488 shares during the period. Finally, CWM LLC grew its position in Chunghwa Telecom by 31.8% during the 2nd quarter. CWM LLC now owns 3,443 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 830 shares during the last quarter. Institutional investors own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded Chunghwa Telecom from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th.

Chunghwa Telecom Price Performance

Shares of Chunghwa Telecom stock opened at $38.04 on Wednesday. The company’s fifty day simple moving average is $38.46 and its two-hundred day simple moving average is $38.31. Chunghwa Telecom Co., Ltd. has a 12-month low of $35.92 and a 12-month high of $40.62. The firm has a market cap of $29.51 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 18.28 and a beta of 0.19. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 0.06.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.