VEON Ltd. $VEON Holdings Boosted by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in shares of VEON Ltd. (NASDAQ:VEON) by 82.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 29,518 shares of the Wireless communications provider’s stock after acquiring an additional 13,315 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in VEON were worth $1,541,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Osaic Holdings Inc. boosted its position in shares of VEON by 36.8% in the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after buying an additional 388 shares during the period. Royal Bank of Canada raised its position in VEON by 184.3% during the fourth quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,576 shares during the period. Truist Financial Corp raised its position in VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the period. Personal CFO Solutions LLC lifted its stake in VEON by 14.4% in the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock worth $217,000 after acquiring an additional 592 shares in the last quarter. Finally, CWM LLC purchased a new stake in VEON in the 4th quarter worth about $219,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Stock Up 0.6%

VEON opened at $56.93 on Thursday. The company has a market capitalization of $4.21 billion, a PE ratio of 66.98 and a beta of 1.65. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96. VEON Ltd. has a fifty-two week low of $42.60 and a fifty-two week high of $64.00. The business has a 50-day moving average of $52.46 and a 200-day moving average of $52.47.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $8.30 EPS. Equities research analysts forecast that VEON Ltd. will post 7.28 EPS for the current fiscal year.

Insider Transactions at VEON

In other VEON news, Director Augie K. Fabela II bought 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $56.02 per share, with a total value of $280,100.00. Following the completion of the transaction, the director directly owned 96,000 shares of the company’s stock, valued at approximately $5,377,920. The trade was a 5.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

VEON has been the subject of a number of research reports. Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Northland Securities began coverage on shares of VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target for the company. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Benchmark reiterated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.