VEON (NASDAQ:VEON) Trading Down 4.8% – Time to Sell?

VEON Ltd. (NASDAQ:VEON)’s share price traded down 4.8% during mid-day trading on Wednesday . The stock traded as low as $49.44 and last traded at $49.49. 34,482 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 169,412 shares. The stock had previously closed at $51.99.

Wall Street Analyst Weigh In

VEON has been the topic of several analyst reports. Wall Street Zen downgraded shares of VEON from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Zacks Research lowered shares of VEON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VEON in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, VEON presently has an average rating of “Moderate Buy” and an average target price of $60.00.

VEON Stock Down 0.1%

The company’s fifty day simple moving average is $50.42 and its 200 day simple moving average is $51.19. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $3.48 billion, a PE ratio of 5.72 and a beta of 1.58.

VEON (NASDAQ:VEON) last announced its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.07). VEON had a return on equity of 58.72% and a net margin of 15.26%.The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion.

VEON declared that its Board of Directors has approved a stock repurchase plan on Monday, November 17th that permits the company to buyback 0 shares. This buyback authorization permits the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On VEON

Several hedge funds have recently bought and sold shares of VEON. Lingotto Investment Management LLP lifted its holdings in shares of VEON by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock valued at $274,470,000 after purchasing an additional 70,659 shares during the last quarter. Wellington Management Group LLP increased its position in VEON by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock valued at $28,220,000 after buying an additional 117,945 shares in the last quarter. Panview Capital Ltd purchased a new position in VEON during the third quarter valued at $22,481,000. Two Sigma Investments LP raised its stake in VEON by 31.5% during 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 buying an additional 66,153 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in VEON in the third quarter worth $15,005,000. Institutional investors own 21.30% of the company’s stock.

About VEON

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.