China Unicom (Hong Kong) Ltd (NYSE:CHU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

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. “

CHU has been the subject of a number of other reports. Bank of America Corporation initiated coverage on China Unicom (Hong Kong) in a research note on Wednesday, August 30th. They set a “neutral” rating for the company. Sanford C. Bernstein reiterated a “buy” rating on shares of China Unicom (Hong Kong) in a research note on Tuesday, July 11th. J P Morgan Chase & Co downgraded China Unicom (Hong Kong) from a “neutral” rating to an “underweight” rating in a research note on Monday, August 21st. Nomura downgraded China Unicom (Hong Kong) from a “neutral” rating to a “reduce” rating in a research note on Thursday, August 24th. Finally, BidaskClub upgraded China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.25.

China Unicom (CHU) opened at 14.47 on Tuesday. The company has a market cap of $34.65 billion, a price-to-earnings ratio of 144.70 and a beta of 0.72. China Unicom has a 52-week low of $10.84 and a 52-week high of $16.55. The company’s 50-day moving average is $14.91 and its 200 day moving average is $13.92.

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A number of hedge funds have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in China Unicom (Hong Kong) by 12.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,250 shares of the Wireless communications provider’s stock worth $167,000 after purchasing an additional 1,250 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in China Unicom (Hong Kong) by 17.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 967,317 shares of the Wireless communications provider’s stock worth $14,471,000 after purchasing an additional 143,609 shares during the period. Cubist Systematic Strategies LLC boosted its stake in China Unicom (Hong Kong) by 70.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 17,478 shares of the Wireless communications provider’s stock worth $261,000 after purchasing an additional 7,239 shares during the period. Royal Bank of Canada boosted its stake in China Unicom (Hong Kong) by 8.4% in the 2nd quarter. Royal Bank of Canada now owns 1,255,775 shares of the Wireless communications provider’s stock worth $18,786,000 after purchasing an additional 96,993 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in China Unicom (Hong Kong) by 2.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 195,942 shares of the Wireless communications provider’s stock worth $2,931,000 after purchasing an additional 4,773 shares during the period. Institutional investors and hedge funds own 1.18% of the company’s stock.

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.

Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

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