Cygnus Capital Advisors LLC boosted its stake in shares of VEON Ltd. (NASDAQ:VEON – Free Report) by 36.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,180 shares of the Wireless communications provider’s stock after buying an additional 14,300 shares during the quarter. VEON makes up approximately 1.9% of Cygnus Capital Advisors LLC’s portfolio, making the stock its 23rd biggest position. Cygnus Capital Advisors LLC owned 0.07% of VEON worth $2,777,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Osaic Holdings Inc. raised its position 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 acquiring an additional 388 shares during the last quarter. Royal Bank of Canada boosted its holdings in VEON by 184.3% in the fourth quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 1,576 shares during the last quarter. Truist Financial Corp boosted its holdings in VEON by 5.1% in the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after acquiring an additional 195 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in VEON during the 3rd quarter valued at approximately $252,000. Finally, Personal CFO Solutions LLC increased its position in VEON by 14.4% during the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock valued at $217,000 after purchasing an additional 592 shares during the period. Institutional investors own 21.30% of the company’s stock.
VEON Stock Performance
NASDAQ:VEON opened at $64.21 on Tuesday. VEON Ltd. has a 12 month low of $42.60 and a 12 month high of $67.36. 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 stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 75.54 and a beta of 1.63. The firm has a fifty day simple moving average of $55.77 and a two-hundred day simple moving average of $53.35.
Insiders Place Their Bets
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 acquired at an average cost of $56.00 per share, with a total value of $840,000.00. Following the purchase, the director owned 91,000 shares in the company, valued at $5,096,000. This represents a 19.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating on shares of VEON in a research report on Monday, June 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Northland Securities started coverage on shares of VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price on the stock. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.
View Our Latest Analysis on VEON
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.
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