Vodafone Group (NASDAQ:VOD) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Vodafone Group (NASDAQ:VOD) from a buy rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

VOD has been the topic of a number of other reports. Barclays downgraded shares of Vodafone Group from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 11th. DZ Bank lowered shares of Vodafone Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Vodafone Group in a research note on Tuesday, September 1st. The Goldman Sachs Group upgraded Vodafone Group from a “sell” rating to a “buy” rating in a research note on Friday. Finally, Zacks Research lowered Vodafone Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Vodafone Group has an average rating of “Hold” and a consensus price target of $10.57.

Vodafone Group Price Performance

VOD opened at $16.90 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 1.11. Vodafone Group has a 52-week low of $11.12 and a 52-week high of $17.15. The business’s fifty day moving average is $15.38 and its 200-day moving average is $15.18.

Institutional Trading of Vodafone Group

A number of hedge funds have recently added to or reduced their stakes in VOD. Bayban lifted its stake in shares of Vodafone Group by 6,696.7% in the 1st quarter. Bayban now owns 2,039 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 2,009 shares during the last quarter. Western Wealth Management LLC acquired a new position in Vodafone Group in the 1st quarter worth about $34,000. Caitong International Asset Management Co. Ltd raised its position in Vodafone Group by 81.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,651 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 1,193 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Vodafone Group by 38.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,435 shares of the cell phone carrier’s stock valued at $40,000 after purchasing an additional 946 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Vodafone Group by 207.6% during the fourth quarter. Manchester Capital Management LLC now owns 3,282 shares of the cell phone carrier’s stock worth $43,000 after purchasing an additional 2,215 shares during the last quarter. Institutional investors and hedge funds own 7.84% of the company’s stock.

About Vodafone Group

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.