VEON (NASDAQ:VEON) Raised to Strong-Buy at StockNews.com

VEON (NASDAQ:VEON) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

VEON Price Performance

NASDAQ:VEON traded down $0.83 on Monday, reaching $27.18. 40,550 shares of the company’s stock traded hands, compared to its average volume of 32,060. The stock has a 50-day simple moving average of $26.34 and a 200-day simple moving average of $24.56. VEON has a 12 month low of $14.50 and a 12 month high of $28.03.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Wednesday, June 26th. The Wireless communications provider reported $0.75 EPS for the quarter. The company had revenue of $942.00 million during the quarter.

Institutional Investors Weigh In On VEON

Several hedge funds have recently modified their holdings of VEON. Shah Capital Management purchased a new stake in shares of VEON during the 4th quarter worth $97,544,000. Helikon Investments Ltd lifted its position in shares of VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after purchasing an additional 206,200 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of VEON by 8.9% during the 4th quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock worth $10,645,000 after purchasing an additional 44,013 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of VEON by 18.8% during the 1st quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock worth $3,109,000 after purchasing an additional 20,456 shares during the last quarter. Finally, Monaco Asset Management SAM lifted its position in shares of VEON by 8.5% during the 1st quarter. Monaco Asset Management SAM now owns 25,830 shares of the Wireless communications provider’s stock worth $620,000 after purchasing an additional 2,030 shares during the last quarter. 21.30% of the stock is owned by hedge funds and other 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.