VEON Ltd. $VEON Stock Sold by RWC Asset Management LLP

RWC Asset Management LLP lessened its holdings in shares of VEON Ltd. (NASDAQ:VEON) by 51.3% during the third quarter, Holdings Channel reports. The firm owned 33,185 shares of the Wireless communications provider’s stock after selling 35,022 shares during the quarter. RWC Asset Management LLP’s holdings in VEON were worth $2,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cygnus Capital Advisors LLC lifted its holdings in VEON by 36.8% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider’s stock worth $2,777,000 after buying an additional 14,300 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of VEON by 82.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock worth $1,541,000 after buying an additional 13,315 shares during the last quarter. Dorsey Wright & Associates increased its stake in shares of VEON by 45.7% during the first quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider’s stock valued at $1,642,000 after buying an additional 11,129 shares during the period. Diversify Wealth Management LLC increased its stake in shares of VEON by 43.0% during the first quarter. Diversify Wealth Management LLC now owns 30,497 shares of the Wireless communications provider’s stock valued at $1,497,000 after buying an additional 9,168 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of VEON by 30.2% during the first quarter. QRG Capital Management Inc. now owns 17,557 shares of the Wireless communications provider’s stock valued at $813,000 after buying an additional 4,073 shares during the period. Institutional investors own 21.30% of the company’s stock.

VEON Stock Up 4.7%

VEON stock traded up $3.74 during trading hours on Friday, hitting $83.01. 381,137 shares of the stock traded hands, compared to its average volume of 199,691. The firm’s 50-day moving average price is $70.16 and its two-hundred day moving average price is $58.85. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 2.30. The company has a market cap of $6.14 billion, a PE ratio of 97.66 and a beta of 1.62. VEON Ltd. has a one year low of $42.60 and a one year high of $85.27.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business earned $8.30 EPS. On average, research analysts forecast that VEON Ltd. will post 7.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VEON. Wall Street Zen downgraded VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 6th. Northland Securities set a $85.00 price target on shares of VEON and gave the company an “outperform” rating in a report on Tuesday, September 29th. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of VEON from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Cantor Fitzgerald assumed coverage on shares of VEON in a research report on Friday, October 2nd. They set an “overweight” rating and a $112.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, VEON currently has an average rating of “Moderate Buy” and a consensus target price of $90.33.

Insider Activity at VEON

In other news, Director K II purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the director directly owned 91,000 shares of the company’s stock, valued at $5,096,000. This trade represents a 19.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

About VEON

VEON Ltd. is a global digital communications and services company that provides mobile connectivity, fixed broadband, and digital products to consumers and businesses. The company operates through a portfolio of local telecommunications brands, offering voice and messaging services, mobile data, broadband access, and related enterprise solutions.

VEON’s principal operating brands include Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline-branded businesses in Kazakhstan, Uzbekistan, and Kyrgyzstan.