VEON Ltd. (NASDAQ:VEON) Stock Position Lowered by Shah Capital Management

Shah Capital Management cut its stake in shares of VEON Ltd. (NASDAQ:VEON) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,943,890 shares of the Wireless communications provider’s stock after selling 6,137 shares during the quarter. VEON accounts for about 40.0% of Shah Capital Management’s investment portfolio, making the stock its largest holding. Shah Capital Management owned approximately 0.07% of VEON worth $198,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Samson Rock Capital LLP bought a new stake in shares of VEON in the 3rd quarter worth approximately $913,000. Helikon Investments Ltd increased its position in shares of VEON by 1.8% during the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after buying an additional 49,680 shares during the period. Citigroup Inc. raised its stake in VEON by 13.4% in the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after buying an additional 29,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of VEON during the 3rd quarter worth approximately $2,069,000. Finally, JPMorgan Chase & Co. boosted its position in shares of VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after purchasing an additional 776 shares in the last quarter. 21.30% of the stock is currently owned by institutional investors.

VEON Stock Performance

VEON stock opened at $45.50 on Monday. VEON Ltd. has a twelve month low of $18.64 and a twelve month high of $48.39. The business has a 50 day moving average of $38.70 and a 200 day moving average of $32.45. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

VEON (NASDAQ:VEON) last issued its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Analyst Ratings Changes

Separately, Benchmark started coverage on shares of VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price target for the company.

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.