Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Acquires Shares of 24,597 VEON Ltd. $VEON

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in VEON Ltd. (NASDAQ:VEON) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,597 shares of the Wireless communications provider’s stock, valued at approximately $1,293,000. VEON makes up about 2.0% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEON. Panview Capital Ltd purchased a new position in VEON in the 3rd quarter valued at $22,481,000. Mackenzie Financial Corp purchased a new position in VEON in the 3rd quarter valued at $15,005,000. Pictet Asset Management Holding SA increased its stake in shares of VEON by 77.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock worth $11,862,000 after acquiring an additional 98,618 shares during the last quarter. Millennium Management LLC raised its holdings in shares of VEON by 275.3% during the 3rd 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. Finally, Shah Capital Management raised its holdings in shares of VEON by 1.5% during the 4th quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock worth $257,343,000 after acquiring an additional 70,831 shares during the period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Stock Down 1.7%

Shares of NASDAQ:VEON opened at $56.56 on Friday. The business has a 50-day moving average price of $51.47 and a 200 day moving average price of $52.20. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 7.58 and a beta of 1.61. VEON Ltd. has a 12-month low of $34.55 and a 12-month high of $64.00.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share (EPS) for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. Sell-side analysts expect that VEON Ltd. will post 8.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Weiss Ratings lowered VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of VEON in a report on Friday, March 13th. Zacks Research lowered VEON from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen lowered VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, VEON has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.