Cubist Systematic Strategies LLC Acquires New Holdings in VEON Ltd. (NASDAQ:VEON)

Cubist Systematic Strategies LLC acquired a new stake in shares of VEON Ltd. (NASDAQ:VEON - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,104 shares of the Wireless communications provider's stock, valued at approximately $245,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock valued at $29,000 after acquiring an additional 540 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in VEON by 100.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock valued at $58,000 after purchasing an additional 720 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock worth $81,000 after purchasing an additional 776 shares during the period. Geode Capital Management LLC lifted its position in shares of VEON by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider's stock worth $1,737,000 after buying an additional 1,254 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of VEON in the 4th quarter valued at about $58,000. 21.30% of the stock is owned by institutional investors and hedge funds.

VEON Stock Performance

NASDAQ:VEON traded down $1.11 during midday trading on Wednesday, reaching $55.27. 320,570 shares of the company traded hands, compared to its average volume of 82,458. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 8.72 and a beta of 1.43. The company has a fifty day moving average price of $44.89 and a 200 day moving average price of $41.68. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. VEON Ltd. has a twelve month low of $25.20 and a twelve month high of $58.30.

VEON (NASDAQ:VEON - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $996.00 million. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Wall Street Analyst Weigh In

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

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.