VEON (NASDAQ:VEON) Given “Buy” Rating at Benchmark

Benchmark reissued their buy rating on shares of VEON (NASDAQ:VEON) in a report issued on Monday,Benzinga reports. Benchmark currently has a $60.00 target price on the Wireless communications provider’s stock.

VEON Trading Up 4.6%

VEON opened at $40.01 on Monday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 6.31 and a beta of 1.51. The firm’s 50 day moving average is $47.32 and its 200-day moving average is $44.02. VEON has a 52-week low of $25.31 and a 52-week high of $58.30. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

VEON (NASDAQ:VEON) last released its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.53. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $996.00 million.

Institutional Trading of VEON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in VEON by 300.0% during the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of VEON during the 4th quarter worth $58,000. GAMMA Investing LLC increased its stake in shares of VEON by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock worth $158,000 after purchasing an additional 635 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in VEON in the 4th quarter valued at approximately $163,000. Finally, JPMorgan Chase & Co. grew its holdings in VEON by 120.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider’s stock valued at $235,000 after buying an additional 3,200 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.

About VEON

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.