Zacks Investment Research downgraded shares of VimpelCom Ltd (NASDAQ:VIP) from a buy rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “VimpelCom Ltd. is one of the world’s largest integrated telecommunications services operators. It offers a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom provides services under the Beeline, Kyivstar, djuice, Wind, Infostrada Mobilink, Leo, Banglalink, Telecel, and Djezzy brands. VimpelCom Ltd. is headquartered in Amsterdam, the Netherlands. “

A number of other analysts also recently weighed in on VIP. ING Group started coverage on VimpelCom in a research report on Friday, March 10th. They set a buy rating and a $5.80 target price for the company. Goldman Sachs Group Inc started coverage on VimpelCom in a research report on Monday, February 13th. They set a buy rating and a $5.80 target price for the company. Finally, Renaissance Capital downgraded VimpelCom from an outperform rating to a market perform rating and set a $4.60 target price for the company. in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $5.28.

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Shares of VimpelCom (NASDAQ:VIP) opened at 4.06 on Wednesday. The company has a 50-day moving average price of $4.15 and a 200-day moving average price of $3.75. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 2.94 and a beta of 2.55. VimpelCom has a 12 month low of $3.12 and a 12 month high of $4.51.

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The firm also recently disclosed a dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 30th will be given a dividend of $0.146 per share. This is an increase from VimpelCom’s previous dividend of $0.03. The ex-dividend date is Tuesday, March 28th.

Several hedge funds have recently made changes to their positions in the company. Laurion Capital Management LP acquired a new stake in shares of VimpelCom during the third quarter valued at $41,637,000. Van ECK Associates Corp increased its stake in shares of VimpelCom by 147.3% in the fourth quarter. Van ECK Associates Corp now owns 7,817,303 shares of the company’s stock valued at $30,097,000 after buying an additional 4,656,577 shares in the last quarter. Sirios Capital Management L P acquired a new stake in shares of VimpelCom during the third quarter valued at $15,445,000. Prudential PLC increased its stake in shares of VimpelCom by 266.1% in the fourth quarter. Prudential PLC now owns 5,422,009 shares of the company’s stock valued at $20,875,000 after buying an additional 3,941,009 shares in the last quarter. Finally, Majedie Asset Management Ltd acquired a new stake in shares of VimpelCom during the third quarter valued at $13,281,000. Institutional investors and hedge funds own 10.44% of the company’s stock.

About VimpelCom

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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