Oppenheimer Asset Management Inc. acquired a new stake in China Unicom (Hong Kong) Ltd (NYSE:CHU) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,322 shares of the Wireless communications provider’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHU. US Bancorp DE increased its holdings in 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 purchasing an additional 128 shares during the last quarter. FNY Partners Fund LP bought a new stake in China Unicom (Hong Kong) in the first quarter valued at about $117,000. Ronald Blue & Co. LLC increased its holdings in 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 purchasing an additional 986 shares during the last quarter. Trexquant Investment LP bought a new stake in China Unicom (Hong Kong) in the first quarter valued at about $211,000. Finally, PNC Financial Services Group Inc. increased its holdings in 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 purchasing an additional 738 shares during the last quarter. Institutional investors and hedge funds own 1.18% of the company’s stock.

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Shares of China Unicom (NYSE CHU) opened at 14.49 on Thursday. China Unicom has a one year low of $10.84 and a one year high of $16.55. The company has a market capitalization of $34.70 billion, a P/E ratio of 144.90 and a beta of 0.72. The firm has a 50 day moving average price of $14.79 and a 200 day moving average price of $14.06.

A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America Corporation initiated coverage on China Unicom (Hong Kong) in a report on Wednesday, August 30th. They issued a “neutral” rating for the company. Nomura downgraded China Unicom (Hong Kong) from a “neutral” rating to a “reduce” rating in a report on Thursday, August 24th. BidaskClub upgraded China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, J P Morgan Chase & Co downgraded China Unicom (Hong Kong) from a “neutral” rating to an “underweight” rating in a report on Monday, August 21st. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.25.

About China Unicom (Hong Kong)

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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