Cygnus Capital Advisors LLC Has $2.78 Million Stock Holdings in VEON Ltd. $VEON

Cygnus Capital Advisors LLC grew its holdings in shares of VEON Ltd. (NASDAQ:VEON) by 36.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,180 shares of the Wireless communications provider’s stock after buying an additional 14,300 shares during the quarter. VEON accounts for about 1.9% of Cygnus Capital Advisors LLC’s holdings, making the stock its 23rd biggest position. Cygnus Capital Advisors LLC’s holdings in VEON were worth $2,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Osaic Holdings Inc. boosted its stake in VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after purchasing an additional 388 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 purchasing an additional 1,576 shares in the last quarter. Truist Financial Corp boosted its position in shares of VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in VEON by 14.4% during the first quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock worth $217,000 after buying an additional 592 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in VEON in the 2nd quarter valued at $243,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VEON shares. Northland Securities started coverage on shares of VEON in a report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective on the stock. Benchmark reissued a “buy” rating on shares of VEON in a research report on Monday, June 15th. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, VEON currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

VEON Price Performance

Shares of NASDAQ VEON opened at $64.21 on Tuesday. 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 fifty day simple moving average of $55.77 and a two-hundred day simple moving average of $53.35. VEON Ltd. has a 1-year low of $42.60 and a 1-year high of $67.36. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 75.54 and a beta of 1.63.

VEON (NASDAQ:VEON) last issued its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $8.30 earnings per share. Analysts anticipate that VEON Ltd. will post 7.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director K II acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $56.02 per share, for a total transaction of $280,100.00. Following the purchase, the director owned 96,000 shares of the company’s stock, valued at approximately $5,377,920. The trade was a 5.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.