VEON (NASDAQ:VEON) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of VEON (NASDAQ:VEON) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

VEON Price Performance

Shares of VEON opened at $23.64 on Wednesday. VEON has a 1-year low of $14.50 and a 1-year high of $26.68. The company’s fifty day simple moving average is $24.11 and its 200 day simple moving average is $20.68. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.97 and a current ratio of 0.97.

Hedge Funds Weigh In On VEON

A number of institutional investors have recently added to or reduced their stakes in VEON. Exor Capital LLP increased its holdings in VEON by 8.5% during the fourth quarter. Exor Capital LLP now owns 131,068,288 shares of the Wireless communications provider’s stock worth $237,757,000 after buying an additional 10,282,470 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of VEON by 1,979.1% in the first quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock valued at $3,754,000 after purchasing an additional 5,234,162 shares during the last quarter. Shah Capital Management acquired a new position in shares of VEON in the fourth quarter valued at $97,544,000. JPMorgan Chase & Co. increased its holdings in shares of VEON by 167.0% in the second quarter. JPMorgan Chase & Co. now owns 3,258,461 shares of the Wireless communications provider’s stock valued at $1,499,000 after purchasing an additional 2,037,914 shares during the last quarter. Finally, Helikon Investments Ltd increased its holdings in shares of VEON by 88.4% in the fourth quarter. Helikon Investments Ltd now owns 1,942,015 shares of the Wireless communications provider’s stock valued at $38,258,000 after purchasing an additional 910,948 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Company Profile

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.