AdvisorShares Investments LLC Takes $920,000 Position in VEON Ltd. $VEON

AdvisorShares Investments LLC acquired a new stake in shares of VEON Ltd. (NASDAQ:VEON) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 16,900 shares of the Wireless communications provider’s stock, valued at approximately $920,000.

Several other institutional investors have also recently made changes to their positions in VEON. Osaic Holdings Inc. increased its stake in shares of VEON by 36.8% during the second 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 in the last quarter. Samson Rock Capital LLP purchased a new stake in shares of VEON during the second quarter valued at $138,000. Truist Financial Corp bought a new stake in shares of VEON in the third quarter worth approximately $208,000. Burns Matteson Capital Management LLC bought a new stake in VEON in the 3rd quarter worth approximately $211,000. Finally, Shilanski & Associates Inc. bought a new stake in shares of VEON in the third quarter worth $214,000. Institutional investors own 21.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on VEON shares. Wall Street Zen upgraded shares of VEON from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

VEON Price Performance

VEON stock opened at $52.62 on Friday. The stock has a market cap of $3.63 billion, a PE ratio of 5.98 and a beta of 1.61. The company has a 50-day moving average price of $52.68 and a 200 day moving average price of $52.85. VEON Ltd. has a 12 month low of $34.55 and a 12 month high of $64.00. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 2.45.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. VEON had a return on equity of 58.72% and a net margin of 15.26%.

VEON announced that its board has authorized a stock repurchase plan on Monday, November 17th that permits the company to repurchase 0 shares. This repurchase authorization permits the Wireless communications provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.