Comerica Bank cut its stake in shares of VEON Ltd (NASDAQ:VEON) by 9.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 95,298 shares of the Wireless communications provider’s stock after selling 10,173 shares during the period. Comerica Bank’s holdings in VEON were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Paloma Partners Management Co bought a new position in VEON during the fourth quarter worth about $30,000. Squarepoint Ops LLC bought a new position in VEON during the fourth quarter worth about $42,000. Arete Wealth Advisors LLC bought a new position in VEON during the fourth quarter worth about $47,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in VEON during the fourth quarter worth about $63,000. Finally, Employees Retirement System of Texas bought a new position in VEON during the fourth quarter worth about $75,000. 19.62% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on VEON shares. BidaskClub upgraded VEON from a “hold” rating to a “buy” rating in a report on Friday, May 10th. ValuEngine upgraded VEON from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. Finally, Zacks Investment Research upgraded VEON from a “sell” rating to a “hold” rating and set a $3.00 price target for the company in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.27.
VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. VEON had a negative return on equity of 17.37% and a net margin of 10.00%. The company had revenue of $2.12 billion during the quarter. On average, analysts forecast that VEON Ltd will post 0.49 EPS for the current fiscal year.
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VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.
Further Reading: What is Liquidity?
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