Waterfront Wealth Inc. Lowers Position in Vodafone Group PLC $VOD

Waterfront Wealth Inc. lessened its position in Vodafone Group PLC (NASDAQ:VOD) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 371,160 shares of the cell phone carrier’s stock after selling 2,521 shares during the quarter. Vodafone Group makes up about 0.9% of Waterfront Wealth Inc.’s investment portfolio, making the stock its 27th largest holding. Waterfront Wealth Inc.’s holdings in Vodafone Group were worth $3,957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Vodafone Group during the first quarter valued at $1,117,000. Tevis Investment Management raised its stake in Vodafone Group by 23.0% during the second quarter. Tevis Investment Management now owns 180,148 shares of the cell phone carrier’s stock valued at $1,966,000 after buying an additional 33,701 shares during the last quarter. Modern Wealth Management LLC purchased a new position in Vodafone Group during the first quarter valued at $285,000. Sequoia Financial Advisors LLC purchased a new position in Vodafone Group during the first quarter valued at $125,000. Finally, Walleye Capital LLC raised its stake in Vodafone Group by 516.1% during the first quarter. Walleye Capital LLC now owns 182,003 shares of the cell phone carrier’s stock valued at $1,705,000 after buying an additional 152,462 shares during the last quarter. Hedge funds and other institutional investors own 7.84% of the company’s stock.

Vodafone Group Trading Up 2.8%

VOD stock opened at $12.23 on Wednesday. Vodafone Group PLC has a 1-year low of $8.00 and a 1-year high of $12.36. The business has a fifty day moving average price of $11.63 and a 200-day moving average price of $10.79. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.26.

Wall Street Analysts Forecast Growth

VOD has been the subject of a number of recent research reports. The Goldman Sachs Group cut Vodafone Group from a “neutral” rating to a “sell” rating and set a $136.00 price objective for the company. in a research note on Thursday, July 31st. Morgan Stanley initiated coverage on Vodafone Group in a research note on Wednesday, July 2nd. They set an “equal weight” rating for the company. BNP Paribas Exane began coverage on Vodafone Group in a research note on Tuesday, October 21st. They set an “underperform” rating and a $8.00 price objective for the company. BNP Paribas upgraded Vodafone Group to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, Zacks Research upgraded Vodafone Group to a “hold” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vodafone Group has an average rating of “Reduce” and an average price target of $72.00.

Vodafone Group Company Profile

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.