China Unicom (Hong Kong) Ltd (CHU) Position Reduced by World Asset Management Inc

World Asset Management Inc cut its position in China Unicom (Hong Kong) Ltd (NYSE:CHU) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,042 shares of the Wireless communications provider’s stock after selling 8,225 shares during the period. World Asset Management Inc’s holdings in China Unicom (Hong Kong) were worth $2,110,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE raised its stake in shares of China Unicom (Hong Kong) by 1.8% in the second quarter. US Bancorp DE now owns 7,247 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 128 shares during the period. FNY Partners Fund LP acquired a new stake in shares of China Unicom (Hong Kong) during the first quarter valued at about $117,000. Ronald Blue & Co. LLC raised its stake in shares of China Unicom (Hong Kong) by 9.5% in the second quarter. Ronald Blue & Co. LLC now owns 11,392 shares of the Wireless communications provider’s stock valued at $170,000 after buying an additional 986 shares during the period. Trexquant Investment LP acquired a new stake in shares of China Unicom (Hong Kong) during the first quarter valued at about $211,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of China Unicom (Hong Kong) by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 16,837 shares of the Wireless communications provider’s stock valued at $227,000 after buying an additional 738 shares during the period. Institutional investors own 1.19% of the company’s stock.

China Unicom (NYSE CHU) opened at 15.19 on Friday. The firm’s 50-day moving average is $14.64 and its 200-day moving average is $13.65. The company has a market cap of $36.38 billion, a PE ratio of 151.90 and a beta of 0.74. China Unicom has a 52-week low of $10.84 and a 52-week high of $16.40.

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CHU has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, July 26th. Sanford C. Bernstein reiterated a “buy” rating on shares of China Unicom (Hong Kong) in a research report on Tuesday, July 11th. Jefferies Group LLC upgraded shares of China Unicom (Hong Kong) from an “underperform” rating to a “buy” rating in a research report on Thursday, April 27th. Finally, BidaskClub raised shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $14.75.

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.

Institutional Ownership by Quarter for China Unicom (Hong Kong) (NYSE:CHU)

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