Dorsey Wright & Associates Invests $1.27 Million in VEON Ltd. $VEON

Dorsey Wright & Associates acquired a new position in VEON Ltd. (NASDAQ:VEON) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,394 shares of the Wireless communications provider’s stock, valued at approximately $1,273,000.

A number of other hedge funds also recently bought and sold shares of VEON. Lingotto Investment Management LLP boosted its position in VEON by 1.2% in the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock worth $274,470,000 after purchasing an additional 70,659 shares during the last quarter. Panview Capital Ltd purchased a new stake in shares of VEON during the 3rd quarter valued at about $22,481,000. Two Sigma Investments LP lifted its stake in shares of VEON by 31.5% in the 3rd quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock worth $15,046,000 after purchasing an additional 66,153 shares during the period. Mackenzie Financial Corp bought a new position in shares of VEON in the 3rd quarter worth approximately $15,005,000. Finally, Millennium Management LLC boosted its holdings in shares of VEON by 275.3% in the third quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock worth $7,265,000 after buying an additional 97,913 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Stock Down 2.9%

VEON stock opened at $49.05 on Wednesday. The business’s 50-day moving average price is $53.56 and its 200-day moving average price is $52.32. The stock has a market cap of $3.38 billion, a P/E ratio of 6.60 and a beta of 1.59. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. VEON Ltd. has a twelve month low of $34.55 and a twelve month high of $64.00.

VEON (NASDAQ:VEON) last released its earnings results on Friday, March 13th. The Wireless communications provider reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($2.18). VEON had a return on equity of 48.84% and a net margin of 12.12%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion.

Analysts Set New Price Targets

Several brokerages recently issued reports on VEON. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research report on Monday, December 29th. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Benchmark restated a “buy” rating on shares of VEON in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average 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.