China Unicom (Hong Kong) (CHU) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of China Unicom (Hong Kong) (NYSE:CHU) from a buy rating to a hold rating in a research report released on Tuesday 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. “

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Separately, CLSA upgraded China Unicom (Hong Kong) from an underperform rating to a buy rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $14.00.

Shares of China Unicom (NYSE:CHU) opened at $11.88 on Tuesday. China Unicom has a 12 month low of $11.88 and a 12 month high of $16.55. The company has a current ratio of 0.32, a quick ratio of 0.29 and a debt-to-equity ratio of 0.07.

Several institutional investors have recently made changes to their positions in CHU. First Trust Advisors LP raised its stake in shares of China Unicom (Hong Kong) by 16.0% during the 3rd quarter. First Trust Advisors LP now owns 152,343 shares of the Wireless communications provider’s stock worth $2,137,000 after purchasing an additional 20,966 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of China Unicom (Hong Kong) during the 3rd quarter worth approximately $234,000. BNP Paribas Arbitrage SA raised its stake in shares of China Unicom (Hong Kong) by 2.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 126,003 shares of the Wireless communications provider’s stock worth $1,768,000 after purchasing an additional 3,357 shares in the last quarter. Advisor Group Inc. raised its stake in shares of China Unicom (Hong Kong) by 68.4% during the 3rd quarter. Advisor Group Inc. now owns 10,977 shares of the Wireless communications provider’s stock worth $154,000 after purchasing an additional 4,459 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of China Unicom (Hong Kong) by 10.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 203,090 shares of the Wireless communications provider’s stock worth $2,849,000 after purchasing an additional 19,568 shares in the last quarter. Institutional investors own 0.87% of the company’s stock.

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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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