StockNews.com started coverage on shares of VEON (NASDAQ:VEON – Get Rating) in a research note published on Thursday. The brokerage issued a strong-buy rating on the Wireless communications provider’s stock.
VEON Stock Performance
Shares of VEON stock opened at $15.31 on Thursday. VEON has a 52-week low of $7.45 and a 52-week high of $20.97. The company has a fifty day moving average of $15.40 and a 200-day moving average of $12.30. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 6.04.
Institutional Investors Weigh In On VEON
A number of institutional investors have recently made changes to their positions in VEON. JPMorgan Chase & Co. boosted its position in VEON by 8.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,220,547 shares of the Wireless communications provider’s stock valued at $833,000 after buying an additional 92,065 shares during the period. Great West Life Assurance Co. Can boosted its position in VEON by 85.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 68,681 shares of the Wireless communications provider’s stock valued at $49,000 after buying an additional 31,706 shares during the period. Cibc World Market Inc. purchased a new stake in VEON during the 1st quarter valued at $153,000. Vontobel Holding Ltd. purchased a new stake in VEON during the 1st quarter valued at $48,000. Finally, Allianz Asset Management GmbH boosted its position in VEON by 1,979.1% during the 1st quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock valued at $3,754,000 after buying an additional 5,234,162 shares during the period. Hedge funds and other institutional investors own 16.75% of the company’s stock.
VEON Company Profile
VEON Ltd. is a holding company, which engages in the provision of connectivity and internet services. It operates through the following segments: Cornerstone Market, Growth Engine, and Frontier Market. The Cornerstone segment includes operations in Russia. The Growth Engines segment comprises businesses in Pakistan, Ukraine, Kazakhstan, and Uzbekistan.
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