Shah Capital Management Reduces Stock Holdings in VEON Ltd. (NASDAQ:VEON)

Shah Capital Management trimmed its holdings in shares of VEON Ltd. (NASDAQ:VEON) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,943,890 shares of the Wireless communications provider’s stock after selling 6,137 shares during the quarter. VEON accounts for about 40.0% of Shah Capital Management’s holdings, making the stock its largest position. Shah Capital Management owned about 6.68% of VEON worth $198,250,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Helikon Investments Ltd grew its holdings in VEON by 1.8% during the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after purchasing an additional 49,680 shares during the period. Citigroup Inc. lifted its position in shares of VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of VEON during the 3rd quarter worth $2,069,000. Samson Rock Capital LLP purchased a new stake in VEON in the 3rd quarter worth about $913,000. Finally, GAMMA Investing LLC bought a new stake in VEON in the 4th quarter valued at about $119,000. 21.30% of the stock is currently owned by institutional investors.

VEON Trading Up 0.7 %

VEON stock opened at $45.50 on Monday. The stock has a 50-day simple moving average of $38.70 and a two-hundred day simple moving average of $32.45. VEON Ltd. has a twelve month low of $18.64 and a twelve month high of $48.39. 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 posted its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Analyst Upgrades and Downgrades

Separately, Benchmark began coverage on shares of VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price objective for the company.

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.