VimpelCom Ltd. (VIP) Short Interest Update
VimpelCom Ltd. (NASDAQ:VIP) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,839,465 shares, an increase of 130.8% from the August 31st total of 796,915 shares. Based on an average trading volume of 3,931,071 shares, the short-interest ratio is currently 0.5 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in VimpelCom by 3.7% in the second quarter. Advisors Asset Management Inc. now owns 182,736 shares of the company’s stock valued at $709,000 after buying an additional 6,583 shares during the period. State Street Corp increased its stake in VimpelCom by 17.2% in the first quarter. State Street Corp now owns 186,671 shares of the company’s stock worth $795,000 after buying an additional 27,382 shares during the last quarter. Gabelli Funds LLC increased its stake in VimpelCom by 3.4% in the second quarter. Gabelli Funds LLC now owns 1,545,000 shares of the company’s stock worth $5,995,000 after buying an additional 51,000 shares during the last quarter. Royal Bank of Canada increased its stake in VimpelCom by 7.2% in the first quarter. Royal Bank of Canada now owns 28,171 shares of the company’s stock worth $120,000 after buying an additional 1,888 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in VimpelCom by 36.7% in the second quarter. First Trust Advisors LP now owns 1,647,415 shares of the company’s stock worth $6,392,000 after buying an additional 442,276 shares during the last quarter. Hedge funds and other institutional investors own 4.46% of the company’s stock.
Shares of VimpelCom (NASDAQ:VIP) opened at 3.44 on Friday. VimpelCom has a 1-year low of $2.71 and a 1-year high of $4.51. The stock’s 50 day moving average is $3.83 and its 200 day moving average is $3.88. The company’s market cap is $6.02 billion.
Several research firms recently commented on VIP. Zacks Investment Research upgraded VimpelCom from a “sell” rating to a “hold” rating in a research report on Saturday, June 11th. Bank of America Corp. set a $5.60 price target on VimpelCom and gave the stock a “buy” rating in a research report on Monday, September 12th. VTB Capital upgraded VimpelCom from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Renaissance Capital upgraded VimpelCom from a “hold” rating to a “buy” rating and dropped their price target for the stock from $5.10 to $4.30 in a research report on Wednesday, September 14th. Finally, Morgan Stanley began coverage on VimpelCom in a research report on Thursday, September 8th. They issued an “overweight” rating and a $5.70 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $5.54.
VimpelCom Company Profile
VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.
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