Helikon Investments Ltd Sells 949,357 Shares of VEON Ltd. $VEON

Helikon Investments Ltd decreased its position in VEON Ltd. (NASDAQ:VEON) by 64.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 512,938 shares of the Wireless communications provider’s stock after selling 949,357 shares during the period. VEON makes up about 1.9% of Helikon Investments Ltd’s investment portfolio, making the stock its 13th biggest holding. Helikon Investments Ltd’s holdings in VEON were worth $27,919,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Lingotto Investment Management LLP increased its position 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 period. Russell Investments Group Ltd. boosted its stake in VEON by 8.9% during the second quarter. Russell Investments Group Ltd. now owns 122,113 shares of the Wireless communications provider’s stock worth $5,626,000 after buying an additional 9,954 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in VEON by 84.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,827 shares of the Wireless communications provider’s stock valued at $5,597,000 after buying an additional 47,000 shares during the period. Walleye Capital LLC raised its stake in shares of VEON by 77.7% in the 2nd quarter. Walleye Capital LLC now owns 59,272 shares of the Wireless communications provider’s stock valued at $2,731,000 after buying an additional 25,910 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of VEON by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

VEON Stock Up 1.2%

VEON opened at $56.24 on Monday. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 6.39 and a beta of 1.61. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.94 and a current ratio of 0.95. The firm’s 50-day simple moving average is $53.34 and its 200-day simple moving average is $52.90. VEON Ltd. has a twelve month low of $34.55 and a twelve month high of $64.00.

VEON announced that its board has authorized a stock buyback program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on VEON shares. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Wall Street Zen raised VEON from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. One research 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 company’s stock. According to MarketBeat, VEON currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

VEON 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.