Cubist Systematic Strategies LLC Has $2.35 Million Stake in VEON Ltd. $VEON

Key Points

• Cubist Systematic Strategies LLC boosted its stake in VEON Ltd. by 783.6% during the first quarter, now owning 53,936 shares valued at approximately $2.35 million.
• Several analysts upgraded VEON's rating to "strong-buy", with a consensus target price of $60.00, indicating positive momentum in the stock's outlook.
• VEON reported strong quarterly earnings, with an EPS of $8.30, significantly surpassing the consensus estimate of $0.95 and generating a revenue of $1.09 billion.

Cubist Systematic Strategies LLC raised its stake in shares of VEON Ltd. (NASDAQ:VEON - Free Report) by 783.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,936 shares of the Wireless communications provider's stock after purchasing an additional 47,832 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of VEON worth $2,352,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in VEON by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock worth $158,000 after purchasing an additional 635 shares during the last quarter. BNP Paribas Financial Markets bought a new position in VEON during the 4th quarter worth $163,000. Jane Street Group LLC bought a new position in VEON during the 4th quarter worth $236,000. Tidal Investments LLC bought a new position in VEON during the 4th quarter worth $484,000. Finally, Jump Financial LLC bought a new position in VEON during the 1st quarter worth $493,000. 21.30% of the stock is owned by institutional investors.

VEON Stock Up 0.2%

Shares of VEON traded up $0.09 during trading hours on Friday, hitting $53.72. The stock had a trading volume of 85,963 shares, compared to its average volume of 218,175. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $54.32 and a 200-day simple moving average of $48.39. The firm has a market capitalization of $3.97 billion, a P/E ratio of 3.94 and a beta of 1.63. VEON Ltd. has a 1-year low of $27.63 and a 1-year high of $64.00.

VEON (NASDAQ:VEON - Get Free Report) last issued its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, beating the consensus estimate of $0.95 by $7.35. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.02 billion. VEON had a return on equity of 72.76% and a net margin of 23.75%. VEON has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

Several research analysts recently issued reports on VEON shares. Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Litchfield Hills Research raised VEON to a "strong-buy" rating in a research report on Thursday, June 26th. Zacks Research raised VEON from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Benchmark reissued a "buy" rating and issued a $60.00 price objective on shares of VEON in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Strong Buy" and a consensus price target of $60.00.

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.