AdvisorShares Investments LLC Takes $920,000 Position in VEON Ltd. $VEON

AdvisorShares Investments LLC acquired a new position in VEON Ltd. (NASDAQ:VEON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,900 shares of the Wireless communications provider’s stock, valued at approximately $920,000.

A number of other large investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in shares of VEON by 36.8% during the 2nd 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. Samson Rock Capital LLP acquired a new position in shares of VEON in the 2nd quarter valued at $138,000. Truist Financial Corp acquired a new position in shares of VEON in the third quarter valued at about $208,000. Burns Matteson Capital Management LLC acquired a new position in VEON in the 3rd quarter worth approximately $211,000. Finally, Shilanski & Associates Inc. acquired a new stake in shares of VEON in the third quarter worth $214,000. 21.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on VEON. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Monday, December 29th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

VEON Stock Performance

VEON stock opened at $52.62 on Friday. The firm has a 50 day simple moving average of $52.68 and a 200-day simple moving average of $52.85. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 5.98 and a beta of 1.61. VEON Ltd. has a 1-year low of $34.55 and a 1-year high of $64.00.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. VEON had a net margin of 15.26% and a return on equity of 58.72%.

VEON announced that its Board of Directors has initiated a stock buyback program on Monday, November 17th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About VEON

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.