Merit Financial Group LLC Has $10.43 Million Holdings in Vodafone Group PLC $VOD

Key Points

• Merit Financial Group LLC increased its Vodafone Group position by 7,003% in the second quarter, acquiring 777,475 additional shares for a total of 788,577 shares valued at $10.43 million.
• Several other institutional investors also expanded their holdings, including Bank of New York Mellon, SALT Holding, BNP Paribas Financial Markets, Jump Financial, and Tower Research Capital; institutions collectively own 7.84% of Vodafone’s stock.
• Vodafone shares opened at $16.09, near their 52-week high of $16.60, while analysts maintain a consensus “Reduce” rating with a target price of $10.57.

Merit Financial Group LLC grew its position in Vodafone Group PLC (NASDAQ:VOD - Free Report) by 7,003.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,577 shares of the cell phone carrier's stock after buying an additional 777,475 shares during the quarter. Merit Financial Group LLC's holdings in Vodafone Group were worth $10,429,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Vodafone Group by 9,637.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,902,486 shares of the cell phone carrier's stock valued at $117,602,000 after acquiring an additional 8,811,061 shares in the last quarter. SALT Holding Corp. grew its position in Vodafone Group by 3,039.6% during the 2nd quarter. SALT Holding Corp. now owns 3,623,500 shares of the cell phone carrier's stock worth $38,627,000 after purchasing an additional 3,508,086 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Vodafone Group by 282.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,161,978 shares of the cell phone carrier's stock valued at $33,707,000 after purchasing an additional 2,335,306 shares during the period. Jump Financial LLC lifted its holdings in shares of Vodafone Group by 6,354.9% in the third quarter. Jump Financial LLC now owns 1,345,455 shares of the cell phone carrier's stock valued at $15,607,000 after purchasing an additional 1,324,611 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Vodafone Group by 235.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,548,454 shares of the cell phone carrier's stock valued at $16,507,000 after purchasing an additional 1,086,405 shares in the last quarter. 7.84% of the stock is owned by hedge funds and other institutional investors.

Vodafone Group Price Performance

VOD opened at $16.09 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Vodafone Group PLC has a fifty-two week low of $11.12 and a fifty-two week high of $16.60. The business has a 50-day moving average of $14.84 and a 200-day moving average of $15.04.

Analyst Upgrades and Downgrades

VOD has been the topic of a number of research analyst reports. Weiss Ratings downgraded Vodafone Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 4th. Wall Street Zen upgraded Vodafone Group from a "sell" rating to a "hold" rating in a research report on Sunday, May 31st. New Street Research raised Vodafone Group from a "neutral" rating to a "buy" rating in a research note on Friday, July 10th. Barclays downgraded Vodafone Group from an "overweight" rating to an "equal weight" rating in a report on Thursday, June 11th. Finally, Zacks Research cut shares of Vodafone Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Vodafone Group has an average rating of "Reduce" and a consensus target price of $10.57.

Vodafone Group Company Profile

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.

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