Dorsey Wright & Associates Takes $1.27 Million Position in VEON Ltd. $VEON

Dorsey Wright & Associates bought a new stake in shares of VEON Ltd. (NASDAQ:VEON) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,394 shares of the Wireless communications provider’s stock, valued at approximately $1,273,000.

Other hedge funds also recently bought and sold shares of the company. Lingotto Investment Management LLP increased its stake in VEON by 1.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock worth $274,470,000 after buying an additional 70,659 shares in the last quarter. Panview Capital Ltd purchased a new position in shares of VEON in the third quarter valued at about $22,481,000. Two Sigma Investments LP lifted its position in shares of VEON by 31.5% in the third quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock valued at $15,046,000 after acquiring an additional 66,153 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of VEON in the third quarter worth about $15,005,000. Finally, Millennium Management LLC boosted its stake in shares of VEON by 275.3% in the third quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock worth $7,265,000 after acquiring an additional 97,913 shares during the period. Institutional investors own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VEON. Benchmark reissued a “buy” rating on shares of VEON in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

VEON Stock Down 2.9%

VEON opened at $49.05 on Wednesday. The firm has a 50-day simple moving average of $53.56 and a two-hundred day simple moving average of $52.32. VEON Ltd. has a 52 week low of $34.55 and a 52 week high of $64.00. The company has a market capitalization of $3.38 billion, a PE ratio of 6.60 and a beta of 1.59. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Friday, March 13th. The Wireless communications provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($2.18). VEON had a net margin of 12.12% and a return on equity of 48.84%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion.

VEON Company Profile

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.