StockNews.com Initiates Coverage on VEON (NASDAQ:VEON)

StockNews.com started coverage on shares of VEON (NASDAQ:VEONGet Rating) in a research note published on Monday morning. The brokerage issued a strong-buy rating on the Wireless communications provider’s stock.

VEON Stock Up 3.3 %

Shares of NASDAQ:VEON opened at $0.47 on Monday. VEON has a 12 month low of $0.24 and a 12 month high of $1.85. The company’s 50-day moving average price is $0.36 and its two-hundred day moving average price is $0.43. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 6.04. The firm has a market cap of $813.35 million, a P/E ratio of 2.25 and a beta of 1.40.

Institutional Investors Weigh In On VEON

A number of hedge funds have recently added to or reduced their stakes in VEON. Exor Capital LLP grew its holdings in VEON by 13.5% during the 2nd quarter. Exor Capital LLP now owns 120,785,818 shares of the Wireless communications provider’s stock worth $55,561,000 after acquiring an additional 14,354,043 shares during the last quarter. Kopernik Global Investors LLC grew its holdings in VEON by 445.1% during the 1st quarter. Kopernik Global Investors LLC now owns 16,018,241 shares of the Wireless communications provider’s stock worth $10,937,000 after acquiring an additional 13,079,563 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of VEON by 89.8% in the 1st quarter. Van ECK Associates Corp now owns 13,619,567 shares of the Wireless communications provider’s stock valued at $9,299,000 after purchasing an additional 6,442,890 shares during the last quarter. Solus Alternative Asset Management LP bought a new position in shares of VEON in the 2nd quarter valued at about $2,939,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of VEON by 1,979.1% in the 1st quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock valued at $3,754,000 after purchasing an additional 5,234,162 shares during the last quarter. Institutional investors own 17.02% of the company’s stock.

VEON Company Profile

(Get Rating)

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice, data, and other telecommunication services through a range of wireless, fixed, and broadband internet services. The company provides value-added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; wireless internet access; and mobile bundles and call completion services.

See Also

Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.