VEON Ltd. (NASDAQ:VEON – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $63.48 and last traded at $62.9850, with a volume of 12639 shares trading hands. The stock had previously closed at $62.34.
Wall Street Analysts Forecast Growth
VEON has been the topic of a number of research reports. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Monday, June 15th. Northland Securities initiated coverage on VEON in a report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Wall Street Zen upgraded VEON from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.
Check Out Our Latest Stock Report on VEON
VEON Price Performance
VEON (NASDAQ:VEON – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company posted $8.30 EPS. On average, equities research analysts expect that VEON Ltd. will post 7.39 EPS for the current fiscal year.
Insider Transactions at VEON
In other VEON news, Director Augie K. Fabela II bought 15,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $56.00 per share, with a total value of $840,000.00. Following the completion of the purchase, the director owned 91,000 shares in the company, valued at approximately $5,096,000. The trade was a 19.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Institutional Investors Weigh In On VEON
A number of hedge funds have recently modified their holdings of VEON. Pictet Asset Management Holding SA raised its holdings in VEON by 77.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock worth $11,862,000 after acquiring an additional 98,618 shares in the last quarter. Lingotto Investment Management LLP raised its stake in VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock valued at $318,619,000 after buying an additional 16,758 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in VEON in the fourth quarter valued at approximately $1,293,000. K2 Principal Fund L.P. acquired a new stake in shares of VEON in the fourth quarter valued at approximately $1,015,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of VEON by 82.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock valued at $1,541,000 after buying an additional 13,315 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.
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.
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