627,465 Shares in VEON Ltd. (NASDAQ:VEON) Acquired by Diameter Capital Partners LP

Diameter Capital Partners LP purchased a new stake in VEON Ltd. (NASDAQ:VEON - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 627,465 shares of the Wireless communications provider's stock, valued at approximately $25,161,000. VEON accounts for approximately 3.8% of Diameter Capital Partners LP's portfolio, making the stock its 9th largest position. Diameter Capital Partners LP owned approximately 0.85% of VEON at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of VEON. Rhumbline Advisers increased its holdings in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock worth $29,000 after acquiring an additional 540 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of VEON in the 4th quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. increased its stake in VEON by 100.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock worth $58,000 after purchasing an additional 720 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock worth $81,000 after buying an additional 776 shares during the period. Finally, R Squared Ltd acquired a new stake in VEON during the 4th quarter worth approximately $101,000. Institutional investors own 21.30% of the company's stock.

Analysts Set New Price Targets

Separately, Benchmark boosted their price target on VEON from $56.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 25th.

VEON Stock Performance

VEON traded up $2.84 during trading on Monday, hitting $49.68. The stock had a trading volume of 258,523 shares, compared to its average volume of 71,146. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50 day moving average price of $43.31 and a 200-day moving average price of $40.68. VEON Ltd. has a one year low of $25.20 and a one year high of $50.77. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 8.71 and a beta of 1.43.

VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The company had revenue of $998.00 million during the quarter, compared to analysts' expectations of $1.01 billion.

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.