Russell Investments Group Ltd. Reduces Holdings in VEON Ltd. $VEON

Key Points

• Russell Investments Group Ltd. reduced its stake in VEON Ltd. by 4.8% in the 1st quarter, now owning approximately 0.15% of the company, valued at $4.89 million.
• Analysts have been optimistic about VEON, with firms like Wall Street Zen and Benchmark raising their ratings, and an average price target now set at $60.00.
• VEON reported impressive earnings, with $8.30 earnings per share for the last quarter, significantly exceeding estimates and showcasing a net margin of 23.75%.

Russell Investments Group Ltd. lessened its stake in shares of VEON Ltd. (NASDAQ:VEON - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,159 shares of the Wireless communications provider's stock after selling 5,649 shares during the period. Russell Investments Group Ltd. owned 0.15% of VEON worth $4,891,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of 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 acquired a new position in shares of VEON during the 4th quarter worth about $163,000. JPMorgan Chase & Co. raised its position in shares of VEON by 120.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock worth $235,000 after purchasing an additional 3,200 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of VEON during the 4th quarter worth about $236,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of VEON during the 4th quarter worth about $245,000. Institutional investors and hedge funds own 21.30% of the company's stock.

VEON Trading Down 1.4%

Shares of VEON stock traded down $0.80 during mid-day trading on Monday, hitting $57.90. The stock had a trading volume of 93,996 shares, compared to its average volume of 188,690. The firm has a 50-day moving average of $50.10 and a two-hundred day moving average of $47.26. VEON Ltd. has a 12-month low of $25.92 and a 12-month high of $64.00. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a market cap of $4.28 billion, a P/E ratio of 4.24 and a beta of 1.50.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share for the quarter, beating the consensus estimate of $0.95 by $7.35. VEON had a net margin of 23.75% and a return on equity of 75.40%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

VEON has been the subject of several research analyst reports. Benchmark restated a "buy" rating and set a $60.00 price target on shares of VEON in a research report on Monday, June 16th. Litchfield Hills Research upgraded shares of VEON to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of VEON from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Strong Buy" and a consensus target price 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.