VEON (NASDAQ:VEON) Shares Up 5.2% – Here’s Why

VEON Ltd. (NASDAQ:VEON) traded up 5.2% during trading on Monday . The stock traded as high as $44.00 and last traded at $44.23. 17,974 shares were traded during trading, a decline of 67% from the average session volume of 54,589 shares. The stock had previously closed at $42.04.

Analyst Ratings Changes

Separately, Benchmark boosted their price target on shares of VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 3rd.

VEON Trading Up 5.3 %

The company has a market cap of $3.28 billion, a PE ratio of 5.92 and a beta of 1.47. The company’s 50 day simple moving average is $44.32 and its two-hundred day simple moving average is $36.57. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VEON. Lingotto Investment Management LLP raised its holdings in shares of VEON by 2.9% in the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after purchasing an additional 159,714 shares in the last quarter. Helikon Investments Ltd lifted its holdings in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after buying an additional 138,149 shares during the last quarter. Diameter Capital Partners LP acquired a new position in shares of VEON during the 4th quarter worth about $25,161,000. Citigroup Inc. increased its holdings in shares of VEON by 13.4% in the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of VEON by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock worth $4,724,000 after acquiring an additional 2,512 shares in the last quarter. 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.