Millennium Management LLC lifted its stake in VEON Ltd (NASDAQ:VEON) by 62.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,298,404 shares of the Wireless communications provider’s stock after buying an additional 500,262 shares during the quarter. Millennium Management LLC owned approximately 0.07% of VEON worth $3,038,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Paloma Partners Management Co purchased a new stake in shares of VEON in the fourth quarter worth about $30,000. Marshall Wace North America L.P. purchased a new position in VEON during the third quarter worth approximately $31,000. Diversified Trust Co purchased a new position in VEON during the fourth quarter worth approximately $35,000. Squarepoint Ops LLC purchased a new position in VEON during the fourth quarter worth approximately $42,000. Finally, Arete Wealth Advisors LLC purchased a new position in VEON during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 15.32% of the company’s stock.
VEON has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded VEON from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. VTB Capital downgraded VEON from a “buy” rating to a “hold” rating and set a $2.80 price target on the stock. in a research report on Wednesday, January 16th. ValuEngine downgraded VEON from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, BidaskClub upgraded VEON from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $3.27.
Shares of VEON stock opened at $2.36 on Friday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -10.26 and a beta of 1.79. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 2.36. VEON Ltd has a 12-month low of $2.07 and a 12-month high of $3.14.
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VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.
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