JPMorgan Chase & Co. Boosts Stake in VEON Ltd. $VEON

JPMorgan Chase & Co. boosted its holdings in VEON Ltd. (NASDAQ:VEON) by 84.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,827 shares of the Wireless communications provider’s stock after acquiring an additional 47,000 shares during the quarter. JPMorgan Chase & Co.’s holdings in VEON were worth $5,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Osaic Holdings Inc. grew its holdings in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after purchasing an additional 388 shares in the last quarter. Truist Financial Corp bought a new position in shares of VEON in the third quarter worth approximately $208,000. Personal CFO Solutions LLC purchased a new stake in VEON in the third quarter valued at approximately $208,000. Burns Matteson Capital Management LLC bought a new stake in VEON during the third quarter valued at approximately $211,000. Finally, Shilanski & Associates Inc. bought a new stake in VEON during the third quarter valued at approximately $214,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Trading Up 2.1%

Shares of VEON opened at $47.28 on Thursday. VEON Ltd. has a fifty-two week low of $34.55 and a fifty-two week high of $64.00. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 6.36 and a beta of 1.67. The firm has a 50 day moving average price of $52.35 and a 200-day moving average price of $51.79. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.90 and a current ratio of 0.91.

VEON (NASDAQ:VEON) last released its earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) EPS for the quarter. The business had revenue of $1.17 billion for the quarter. VEON had a net margin of 12.12% and a return on equity of 47.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VEON. Benchmark reissued a “buy” rating on shares of VEON in a report on Friday, March 13th. Zacks Research raised shares of VEON from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 19th. Wall Street Zen upgraded shares of VEON from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, VEON has an average rating of “Buy” and an average target price of $60.00.

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.