Bank of America Corp DE Buys 6,659 Shares of VEON Ltd. (NASDAQ:VEON)

Bank of America Corp DE increased its holdings in VEON Ltd. (NASDAQ:VEON - Free Report) by 33.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,468 shares of the Wireless communications provider's stock after acquiring an additional 6,659 shares during the period. Bank of America Corp DE's holdings in VEON were worth $1,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in shares of VEON in the 4th quarter worth about $163,000. Jane Street Group LLC acquired a new stake in shares of VEON in the 4th quarter worth about $236,000. Cyrus Capital Partners L.P. acquired a new stake in shares of VEON in the 4th quarter worth about $2,994,000. Walleye Capital LLC acquired a new stake in shares of VEON in the 4th quarter worth about $264,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of VEON by 2.2% in the 4th quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider's stock worth $4,724,000 after acquiring an additional 2,512 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company's stock.

Analyst Ratings Changes

Separately, Benchmark increased their price objective on shares of VEON from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th.

VEON Price Performance

Shares of NASDAQ VEON opened at $49.23 on Friday. VEON Ltd. has a twelve month low of $25.31 and a twelve month high of $58.30. The stock's 50 day moving average price is $46.74 and its 200-day moving average price is $43.27. The company has a market capitalization of $3.64 billion, a PE ratio of 7.76 and a beta of 1.51. 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 - Get Free Report) last announced its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.53. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million.

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.

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