VEON (NASDAQ:VEON) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of VEON (NASDAQ:VEON) from a buy rating to a strong-buy rating in a report released on Monday.

VEON Price Performance

VEON stock opened at $27.20 on Monday. VEON has a 1-year low of $14.50 and a 1-year high of $28.03. The company’s 50-day moving average is $26.43 and its 200 day moving average is $24.69.

VEON (NASDAQ:VEON) last released its earnings results on Wednesday, June 26th. The Wireless communications provider reported $0.75 earnings per share for the quarter. The business had revenue of $942.00 million for the quarter.

Institutional Trading of VEON

Large investors have recently modified their holdings of the company. Shah Capital Management bought a new stake in VEON during the 4th quarter valued at $97,544,000. Helikon Investments Ltd lifted its stake in VEON by 88.4% in the fourth quarter. Helikon Investments Ltd now owns 1,942,015 shares of the Wireless communications provider’s stock worth $38,258,000 after acquiring an additional 910,948 shares during the period. Wellington Management Group LLP increased its position in VEON by 8.9% during the 4th quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock valued at $10,645,000 after purchasing an additional 44,013 shares during the period. Gabelli Funds LLC raised its holdings in shares of VEON by 18.8% in the 1st quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock valued at $3,109,000 after purchasing an additional 20,456 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of VEON in the 1st quarter worth approximately $376,000. Hedge funds and other institutional investors 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.