VEON Ltd (VEON) Position Lessened by Bank of America Corp DE

Bank of America Corp DE decreased its position in shares of VEON Ltd (NASDAQ:VEON) by 66.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 845,946 shares of the Wireless communications provider’s stock after selling 1,694,780 shares during the period. Bank of America Corp DE’s holdings in VEON were worth $2,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of VEON by 44.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 60,741,135 shares of the Wireless communications provider’s stock valued at $144,564,000 after buying an additional 18,748,194 shares during the period. Exor Investments UK LLP increased its position in VEON by 61.2% during the second quarter. Exor Investments UK LLP now owns 36,267,792 shares of the Wireless communications provider’s stock worth $86,317,000 after purchasing an additional 13,767,905 shares during the last quarter. Morgan Stanley increased its position in VEON by 9.2% during the second quarter. Morgan Stanley now owns 19,187,951 shares of the Wireless communications provider’s stock worth $45,667,000 after purchasing an additional 1,608,650 shares during the last quarter. First Trust Advisors LP acquired a new position in VEON during the second quarter worth approximately $11,313,000. Finally, Millennium Management LLC increased its position in VEON by 119.6% during the first quarter. Millennium Management LLC now owns 2,940,200 shares of the Wireless communications provider’s stock worth $7,762,000 after purchasing an additional 1,601,588 shares during the last quarter. 15.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of VEON stock opened at $2.82 on Friday. VEON Ltd has a one year low of $2.20 and a one year high of $4.14. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 3.02. The company has a market cap of $4.99 billion, a P/E ratio of 47.00 and a beta of 2.08.

VEON has been the subject of several research analyst reports. HSBC raised shares of VEON from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Zacks Investment Research lowered shares of VEON from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. BidaskClub lowered shares of VEON from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Goldman Sachs Group lowered shares of VEON from a “buy” rating to a “neutral” rating in a research report on Friday, October 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

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VEON Profile

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for VEON (NASDAQ:VEON)

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