Diversify Wealth Management LLC Buys New Shares in VEON Ltd. $VEON

Diversify Wealth Management LLC purchased a new stake in shares of VEON Ltd. (NASDAQ:VEON) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,813 shares of the Wireless communications provider’s stock, valued at approximately $1,078,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of VEON by 36.8% during the 2nd 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 during the last quarter. Samson Rock Capital LLP bought a new position in VEON during the second quarter valued at approximately $138,000. Truist Financial Corp purchased a new position in shares of VEON during the third quarter worth approximately $208,000. Personal CFO Solutions LLC purchased a new position in shares of VEON during the third quarter worth approximately $208,000. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of VEON in the 3rd quarter worth approximately $211,000. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

VEON Trading Up 0.8%

Shares of VEON opened at $55.89 on Friday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 6.35 and a beta of 1.61. VEON Ltd. has a twelve month low of $34.55 and a twelve month high of $64.00. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. The firm has a fifty day simple moving average of $53.68 and a two-hundred day simple moving average of $52.91.

VEON announced that its Board of Directors has approved a share repurchase program on Monday, November 17th that allows the company to repurchase 0 shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About VEON

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.