Zacks Investment Research cut shares of China Unicom (Hong Kong) Ltd (NYSE:CHU) from a buy rating to a hold rating in a research note published on Friday morning.
According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “
A number of other equities research analysts have also weighed in on CHU. BidaskClub raised China Unicom (Hong Kong) from a hold rating to a buy rating in a research report on Wednesday. CLSA lowered China Unicom (Hong Kong) from an outperform rating to an underperform rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co lowered China Unicom (Hong Kong) from a neutral rating to an underweight rating in a research report on Monday, August 21st. Nomura lowered China Unicom (Hong Kong) from a neutral rating to a reduce rating in a research report on Thursday. Finally, Jefferies Group LLC raised China Unicom (Hong Kong) from an underperform rating to a buy rating in a research report on Thursday, April 27th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. China Unicom (Hong Kong) has an average rating of Hold and an average target price of $14.75.
Shares of China Unicom (NYSE:CHU) traded down 0.27% during mid-day trading on Friday, hitting $14.85. 517,075 shares of the stock traded hands. China Unicom has a 52 week low of $10.84 and a 52 week high of $16.55. The stock has a market cap of $35.56 billion, a price-to-earnings ratio of 148.50 and a beta of 0.74. The firm’s 50-day moving average is $14.81 and its 200-day moving average is $13.78.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in China Unicom (Hong Kong) by 28,837.9% in the first quarter. JPMorgan Chase & Co. now owns 80,158 shares of the Wireless communications provider’s stock valued at $1,080,000 after buying an additional 79,881 shares during the last quarter. Trexquant Investment LP bought a new position in China Unicom (Hong Kong) during the first quarter valued at approximately $211,000. Parametric Portfolio Associates LLC raised its position in China Unicom (Hong Kong) by 48.0% in the first quarter. Parametric Portfolio Associates LLC now owns 191,169 shares of the Wireless communications provider’s stock valued at $2,575,000 after buying an additional 62,000 shares during the last quarter. Karp Capital Management Corp bought a new position in China Unicom (Hong Kong) during the first quarter valued at approximately $7,475,000. Finally, Locust Wood Capital Advisers LLC bought a new position in China Unicom (Hong Kong) during the first quarter valued at approximately $466,000. 1.19% of the stock is owned by hedge funds and other institutional investors.
China Unicom (Hong Kong) Company Profile
China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.
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