VEON (NASDAQ:VEON) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of VEON (NASDAQ:VEON) from a buy rating to a hold rating in a report released on Friday.

VEON Trading Up 0.3 %

VEON opened at $26.02 on Friday. VEON has a one year low of $14.50 and a one year high of $27.90. The business’s 50-day simple moving average is $25.54 and its 200-day simple moving average is $23.35.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of VEON by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock worth $10,645,000 after acquiring an additional 44,013 shares during the last quarter. Helikon Investments Ltd boosted its stake in VEON by 88.4% during the 4th quarter. Helikon Investments Ltd now owns 1,942,015 shares of the Wireless communications provider’s stock worth $38,258,000 after purchasing an additional 910,948 shares during the period. Shah Capital Management purchased a new position in VEON during the 4th quarter worth $97,544,000. National Bank of Canada FI acquired a new position in VEON in the fourth quarter valued at $50,000. Finally, Barclays PLC raised its holdings in shares of VEON by 37.0% in the third quarter. Barclays PLC now owns 5,920 shares of the Wireless communications provider’s stock valued at $115,000 after buying an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

About VEON

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.