SBI Securities Co. Ltd. Buys 34,546 Shares of VEON Ltd. (NASDAQ:VEON)

SBI Securities Co. Ltd. boosted its holdings in VEON Ltd. (NASDAQ:VEON - Free Report) by 2,404.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VEON. GAMMA Investing LLC boosted its stake in VEON by 21.3% in the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after buying an additional 635 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in VEON in the fourth quarter valued at about $163,000. JPMorgan Chase & Co. boosted its stake 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 buying an additional 3,200 shares in the last quarter. Jane Street Group LLC acquired a new stake in VEON in the fourth quarter valued at about $236,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in VEON in the fourth quarter valued at about $245,000. 21.30% of the stock is owned by institutional investors and hedge funds.

VEON Trading Up 0.8%

VEON stock traded up $0.42 during trading hours on Friday, hitting $51.09. The stock had a trading volume of 155,971 shares, compared to its average volume of 118,891. 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 stock has a market cap of $3.78 billion, a price-to-earnings ratio of 8.07 and a beta of 1.44. VEON Ltd. has a one year low of $25.92 and a one year high of $59.68. The business's 50 day simple moving average is $47.89 and its 200-day simple moving average is $45.20.

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

Wall Street Analysts Forecast Growth

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

VEON Profile

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.