SBI Securities Co. Ltd. Increases Stock Position in VEON Ltd. (NASDAQ:VEON)

SBI Securities Co. Ltd. increased its stake in shares of VEON Ltd. (NASDAQ:VEON - Free Report) by 2,404.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,983 shares of the Wireless communications provider's stock after buying an additional 34,546 shares during the quarter. SBI Securities Co. Ltd.'s holdings in VEON were worth $1,569,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VEON. JPMorgan Chase & Co. boosted its holdings in VEON by 120.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock valued at $235,000 after purchasing an additional 3,200 shares during the last quarter. Geode Capital Management LLC boosted its holdings in VEON by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider's stock valued at $1,737,000 after purchasing an additional 1,254 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in VEON by 2.2% in the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider's stock valued at $4,724,000 after purchasing an additional 2,512 shares during the last quarter. Walleye Capital LLC purchased a new stake in VEON in the fourth quarter valued at $264,000. Finally, Cyrus Capital Partners L.P. purchased a new stake in VEON in the fourth quarter valued at $2,994,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Stock Performance

Shares of NASDAQ:VEON traded down $0.76 during midday trading on Tuesday, hitting $53.07. The stock had a trading volume of 186,693 shares, compared to its average volume of 117,478. The company has a market capitalization of $3.93 billion, a PE ratio of 8.37 and a beta of 1.44. The stock has a 50 day moving average price of $47.76 and a two-hundred day moving average price of $45.15. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.17. VEON Ltd. has a 1 year low of $25.92 and a 1 year high of $59.68.

VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.53. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $996.00 million. VEON had a net margin of 11.18% and a return on equity of 36.24%.

Analysts Set New Price Targets

Several research firms have recently issued reports on VEON. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of VEON from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Finally, Benchmark restated a "buy" rating and set a $60.00 price target on shares of VEON in a research report on Monday, June 16th.

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.