VEON Ltd. $VEON is Lingotto Investment Management LLP’s 5th Largest Position

Lingotto Investment Management LLP lifted its stake in shares of VEON Ltd. (NASDAQ:VEON) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 5,957,666 shares of the Wireless communications provider’s stock after acquiring an additional 70,659 shares during the period. VEON comprises 5.8% of Lingotto Investment Management LLP’s investment portfolio, making the stock its 5th largest position. Lingotto Investment Management LLP owned approximately 0.08% of VEON worth $274,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VEON. Samson Rock Capital LLP acquired a new position in shares of VEON during the second quarter worth about $138,000. Handelsbanken Fonder AB acquired a new stake in shares of VEON in the 2nd quarter valued at $267,000. NewEdge Advisors LLC purchased a new stake in shares of VEON during the 1st quarter worth $400,000. Jump Financial LLC purchased a new stake in shares of VEON during the 1st quarter worth $493,000. Finally, Jane Street Group LLC grew its stake in shares of VEON by 177.9% during the first quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after purchasing an additional 10,483 shares in the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

VEON Stock Performance

Shares of VEON opened at $50.39 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. VEON Ltd. has a 52-week low of $34.05 and a 52-week high of $64.00. The company has a 50-day simple moving average of $50.42 and a 200-day simple moving average of $51.19. The company has a market capitalization of $3.48 billion, a PE ratio of 5.73 and a beta of 1.58.

VEON (NASDAQ:VEON) last posted its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). VEON had a return on equity of 58.72% and a net margin of 15.26%.The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion.

VEON declared that its Board of Directors has authorized a share buyback plan on Monday, November 17th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the Wireless communications provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of VEON in a research note on Tuesday, November 25th. Zacks Research cut shares of VEON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of VEON from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, VEON currently has an average rating of “Moderate Buy” and an average target price of $60.00.

VEON Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.