30,225 Shares in VEON Ltd. $VEON Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. acquired a new position in shares of VEON Ltd. (NASDAQ:VEON) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,225 shares of the Wireless communications provider’s stock, valued at approximately $1,645,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings in shares of VEON by 36.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after acquiring an additional 388 shares during the last quarter. Samson Rock Capital LLP purchased a new stake in VEON in the 2nd quarter worth about $138,000. Truist Financial Corp bought a new stake in VEON in the third quarter worth about $208,000. Burns Matteson Capital Management LLC purchased a new position in shares of VEON during the third quarter valued at approximately $211,000. Finally, Shilanski & Associates Inc. purchased a new position in shares of 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 Price Performance

Shares of VEON stock opened at $55.89 on Friday. VEON Ltd. has a twelve month low of $34.55 and a twelve month high of $64.00. The stock has a fifty day simple moving average of $53.68 and a two-hundred day simple moving average of $52.91. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 6.35 and a beta of 1.61. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 2.45.

VEON announced that its Board of Directors has authorized a stock repurchase program on Monday, November 17th that allows the company to repurchase 0 shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate 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.