Wells Fargo & Company MN Cuts Stake in China Unicom (Hong Kong) Limited (NYSE:CHU)

Wells Fargo & Company MN reduced its holdings in shares of China Unicom (Hong Kong) Limited (NYSE:CHU) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 668,351 shares of the Wireless communications provider’s stock after selling 31,918 shares during the period. Wells Fargo & Company MN’s holdings in China Unicom (Hong Kong) were worth $7,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evolution Wealth Advisors LLC purchased a new stake in China Unicom (Hong Kong) during the 2nd quarter worth approximately $27,000. Parallel Advisors LLC increased its stake in China Unicom (Hong Kong) by 101.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,628 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 1,325 shares during the period. Signaturefd LLC increased its stake in China Unicom (Hong Kong) by 68.7% during the 2nd quarter. Signaturefd LLC now owns 4,810 shares of the Wireless communications provider’s stock worth $52,000 after buying an additional 1,959 shares during the period. Marshall Wace LLP acquired a new position in China Unicom (Hong Kong) during the 1st quarter worth approximately $156,000. Finally, Wetherby Asset Management Inc. grew its holdings in China Unicom (Hong Kong) by 43.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 20,878 shares of the Wireless communications provider’s stock worth $228,000 after acquiring an additional 6,359 shares in the last quarter. 1.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CHU traded up $0.09 during trading hours on Friday, reaching $10.80. The company had a trading volume of 136,013 shares, compared to its average volume of 411,516. The firm has a 50 day simple moving average of $9.85 and a 200-day simple moving average of $11.16. The company has a current ratio of 0.38, a quick ratio of 0.37 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $32.77 billion, a price-to-earnings ratio of 21.60 and a beta of 0.99. China Unicom has a 12-month low of $9.05 and a 12-month high of $13.66.

Several research firms have commented on CHU. UBS Group upgraded shares of China Unicom (Hong Kong) from a “neutral” rating to a “buy” rating in a report on Monday, June 10th. New Street Research cut shares of China Unicom (Hong Kong) from a “buy” rating to a “neutral” rating in a report on Monday, August 19th. Zacks Investment Research cut shares of China Unicom (Hong Kong) from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Credit Suisse Group upgraded shares of China Unicom (Hong Kong) from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. China Unicom (Hong Kong) has an average rating of “Hold” and a consensus target price of $12.00.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related services, information communications technology services, and business and data communications services.

Further Reading: Are sell-side analysts objective?

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

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