JPMorgan Chase & Co. Raises Holdings in VEON Ltd. $VEON

Key Points

• JPMorgan Chase & Co. raised its stake in VEON Ltd. by 84.2% in Q3 to 102,827 shares (about 0.15% of the company), valued at roughly $5.60 million.
• Several other institutional investors (including Severin, Dorsey Wright, Caxton, Voleon and VR Advisory) also added or initiated positions, and hedge funds collectively own about 21.3% of VEON.
• Analyst sentiment has improved recently—multiple upgrades (including Wall Street Zen and Zacks) leave VEON with an average rating of Buy and an average price target of $60.00.

JPMorgan Chase & Co. lifted its position in shares of VEON Ltd. (NASDAQ:VEON - Free Report) by 84.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 102,827 shares of the Wireless communications provider's stock after acquiring an additional 47,000 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of VEON worth $5,597,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Severin Investments LLC purchased a new stake in VEON during the third quarter valued at about $463,000. Dorsey Wright & Associates purchased a new position in shares of VEON in the third quarter worth about $1,273,000. Caxton Associates LLP raised its position in shares of VEON by 174.0% in the third quarter. Caxton Associates LLP now owns 16,856 shares of the Wireless communications provider's stock valued at $917,000 after purchasing an additional 10,704 shares during the period. Voleon Capital Management LP bought a new stake in shares of VEON in the third quarter valued at approximately $1,282,000. Finally, VR Advisory Services Ltd lifted its stake in shares of VEON by 11.1% during the 3rd quarter. VR Advisory Services Ltd now owns 100,166 shares of the Wireless communications provider's stock valued at $5,452,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on VEON. Wall Street Zen upgraded shares of VEON from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of VEON in a report on Monday, December 29th. Benchmark reiterated a "buy" rating on shares of VEON in a research report on Friday, March 13th. Finally, Zacks Research upgraded VEON from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $60.00.

VEON Price Performance

VEON stock opened at $47.28 on Thursday. The firm has a 50 day moving average of $52.35 and a 200-day moving average of $51.79. The firm has a market capitalization of $3.50 billion, a P/E ratio of 6.36 and a beta of 1.67. VEON Ltd. has a 12 month low of $34.55 and a 12 month high of $64.00. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 2.47.

VEON (NASDAQ:VEON - Get Free Report) last posted its earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) earnings per share for the quarter. VEON had a return on equity of 47.86% and a net margin of 12.12%.The firm had revenue of $1.17 billion for the quarter.

VEON Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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