VimpelCom Ltd. (VEON) Short Interest Down 23.0% in August
VimpelCom Ltd. (NASDAQ:VEON) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 2,470,175 shares, a decline of 23.0% from the August 15th total of 3,206,381 shares. Based on an average daily trading volume, of 1,564,035 shares, the short-interest ratio is presently 1.6 days.
Shares of VimpelCom (NASDAQ VEON) opened at 4.16 on Friday. The stock has a market cap of $7.28 billion, a PE ratio of 4.31 and a beta of 2.23. VimpelCom has a 52 week low of $3.12 and a 52 week high of $4.50. The stock has a 50 day moving average of $4.13 and a 200-day moving average of $4.01.
VimpelCom (NASDAQ:VEON) last announced its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.09). VimpelCom had a negative return on equity of 8.29% and a net margin of 18.26%. The business had revenue of $2.42 billion during the quarter. Equities research analysts predict that VimpelCom will post $0.33 earnings per share for the current fiscal year.
The company also recently disclosed a None dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th were paid a dividend of $0.11 per share. This represents a yield of 2.63%. The ex-dividend date was Thursday, August 10th.
A number of hedge funds and other institutional investors have recently bought and sold shares of VEON. Abrams Capital Management L.P. purchased a new position in VimpelCom during the first quarter worth $76,585,000. Macquarie Group Ltd. purchased a new position in VimpelCom during the first quarter worth $32,486,000. OZ Management LP purchased a new position in VimpelCom during the first quarter worth $31,987,000. Van ECK Associates Corp purchased a new position in VimpelCom during the first quarter worth $30,549,000. Finally, Raging Capital Management LLC purchased a new position in VimpelCom during the first quarter worth $26,798,000. 12.17% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on VEON. BidaskClub raised shares of VimpelCom from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Royal Bank Of Canada set a $7.00 price objective on shares of VimpelCom and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of VimpelCom from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. ValuEngine raised shares of VimpelCom from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co raised shares of VimpelCom from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $4.00 to $4.50 in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $5.31.
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