19,300 Shares in VEON Ltd. $VEON Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. acquired a new position in shares of VEON Ltd. (NASDAQ:VEON) during the 4th quarter, Holdings Channel.com reports. The fund acquired 19,300 shares of the Wireless communications provider’s stock, valued at approximately $1,015,000.

Other hedge funds have also bought and sold shares of the company. Osaic Holdings Inc. boosted its stake in VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after acquiring an additional 388 shares in the last quarter. Truist Financial Corp bought a new stake in VEON during the third quarter worth about $208,000. Personal CFO Solutions LLC bought a new stake in VEON during the third quarter worth about $208,000. CWM LLC bought a new stake in VEON during the fourth quarter worth about $219,000. Finally, Engineers Gate Manager LP bought a new stake in VEON during the second quarter worth about $243,000. Institutional investors own 21.30% of the company’s stock.

VEON Stock Up 3.8%

Shares of VEON stock opened at $52.42 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $3.88 billion, a PE ratio of 7.03 and a beta of 1.63. VEON Ltd. has a 52-week low of $34.55 and a 52-week high of $64.00. The company has a 50-day simple moving average of $52.38 and a two-hundred day simple moving average of $52.37.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. On average, analysts anticipate that VEON Ltd. will post 6.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VEON shares. Wall Street Zen lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Friday, March 13th. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Zacks Research cut shares of VEON from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

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.