Diameter Capital Partners LP Invests $25.16 Million in VEON Ltd. (NASDAQ:VEON)

Diameter Capital Partners LP purchased a new stake in shares of VEON Ltd. (NASDAQ:VEON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 627,465 shares of the Wireless communications provider's stock, valued at approximately $25,161,000. VEON accounts for 3.8% of Diameter Capital Partners LP's holdings, making the stock its 9th largest position. Diameter Capital Partners LP owned about 0.85% of VEON at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VEON. SBI Securities Co. Ltd. purchased a new stake in VEON during the 4th quarter valued at $58,000. Helikon Investments Ltd boosted its holdings in shares of VEON by 5.0% during the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider's stock worth $117,377,000 after purchasing an additional 138,149 shares during the period. Samson Rock Capital LLP increased its holdings in VEON by 20.0% during the 4th quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider's stock valued at $1,444,000 after purchasing an additional 6,000 shares during the period. Cyrus Capital Partners L.P. purchased a new stake in VEON in the 4th quarter worth approximately $2,994,000. Finally, Lingotto Investment Management LLP increased its stake in shares of VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider's stock valued at $230,192,000 after buying an additional 159,714 shares during the period. 21.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their price target on VEON from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th.

VEON Trading Down 2.1 %

VEON stock traded down $1.01 during trading on Friday, reaching $46.87. The company had a trading volume of 354,933 shares, compared to its average volume of 70,134. The business has a 50 day moving average of $43.31 and a 200 day moving average of $40.55. 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 market cap of $3.47 billion, a P/E ratio of 8.18 and a beta of 1.43. VEON Ltd. has a 52 week low of $25.20 and a 52 week high of $49.87.

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

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.