Dorsey Wright & Associates Acquires 11,129 Shares of VEON Ltd. $VEON

Dorsey Wright & Associates boosted its holdings in shares of VEON Ltd. (NASDAQ:VEON) by 45.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,457 shares of the Wireless communications provider’s stock after purchasing an additional 11,129 shares during the quarter. Dorsey Wright & Associates’ holdings in VEON were worth $1,642,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Lingotto Investment Management LLP lifted its position in shares of VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after buying an additional 16,758 shares in the last quarter. Shah Capital Management boosted its stake in VEON by 1.5% during the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock valued at $257,343,000 after buying an additional 70,831 shares during the last quarter. Wellington Management Group LLP grew its holdings in VEON by 66.5% during the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock valued at $51,382,000 after buying an additional 390,294 shares in the last quarter. Solus Alternative Asset Management LP grew its holdings in VEON by 3.6% during the 4th quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock valued at $46,630,000 after buying an additional 30,900 shares in the last quarter. Finally, Panview Capital Ltd grew its holdings in VEON by 24.7% during the 4th quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after buying an additional 101,906 shares in the last quarter. 21.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VEON. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of VEON in a research report on Monday, June 15th. Zacks Research cut VEON from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Wall Street Zen downgraded VEON from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 26th. Finally, Rothschild & Co Redburn set a $74.00 price objective on VEON and gave the company a “buy” rating in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, VEON presently has an average rating of “Hold” and a consensus price target of $72.00.

VEON Price Performance

VEON stock opened at $51.62 on Friday. The firm has a 50-day moving average price of $52.96 and a 200-day moving average price of $52.43. The firm has a market capitalization of $3.82 billion, a PE ratio of 6.92 and a beta of 1.64. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. VEON Ltd. has a 12-month low of $42.60 and a 12-month high of $64.00.

VEON (NASDAQ:VEON) last released its earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. As a group, equities research analysts forecast that VEON Ltd. will post 6.99 EPS for the current year.

About VEON

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.