RWC Asset Management LLP Takes $2.05 Million Position in VEON Ltd. $VEON

RWC Asset Management LLP acquired a new stake in shares of VEON Ltd. (NASDAQ:VEON) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 37,618 shares of the Wireless communications provider’s stock, valued at approximately $2,048,000. RWC Asset Management LLP owned about 0.05% of VEON as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Osaic Holdings Inc. boosted its holdings in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after purchasing an additional 388 shares during the period. Samson Rock Capital LLP acquired a new position in VEON during the 2nd quarter worth $138,000. Burns Matteson Capital Management LLC bought a new stake in VEON during the 3rd quarter valued at approximately $211,000. Shilanski & Associates Inc. bought a new stake in shares of VEON in the third quarter valued at approximately $214,000. Finally, Engineers Gate Manager LP bought a new position in shares of VEON during the 2nd quarter worth about $243,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, VEON presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

VEON Price Performance

Shares of NASDAQ VEON opened at $52.00 on Tuesday. The stock has a market capitalization of $3.59 billion, a PE ratio of 5.91 and a beta of 1.59. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.94. VEON Ltd. has a fifty-two week low of $34.55 and a fifty-two week high of $64.00. The business has a fifty day moving average price of $51.00 and a two-hundred day moving average price of $52.04.

VEON (NASDAQ:VEON) last issued its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.07). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. VEON had a return on equity of 58.72% and a net margin of 15.26%.

VEON announced that its board has initiated a stock repurchase plan on Monday, November 17th that allows the company to repurchase 0 shares. This repurchase authorization allows the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

About VEON

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.