Tidal Investments LLC Invests $484,000 in VEON Ltd. (NASDAQ:VEON)

Tidal Investments LLC acquired a new stake in VEON Ltd. (NASDAQ:VEON - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,071 shares of the Wireless communications provider's stock, valued at approximately $484,000.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock worth $81,000 after buying an additional 776 shares in the last quarter. R Squared Ltd purchased a new stake in shares of VEON in the fourth quarter worth about $101,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of VEON by 100.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock worth $58,000 after buying an additional 720 shares in the last quarter. Samson Rock Capital LLP lifted its position in shares of VEON by 20.0% in the fourth quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider's stock worth $1,444,000 after buying an additional 6,000 shares in the last quarter. Finally, Rhumbline Advisers raised its position in VEON by 300.0% during the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock valued at $29,000 after purchasing an additional 540 shares during the period. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

VEON Trading Down 5.9%

VEON stock traded down $3.20 during midday trading on Tuesday, reaching $50.85. 111,393 shares of the company traded hands, compared to its average volume of 87,386. VEON Ltd. has a 52-week low of $25.20 and a 52-week high of $58.30. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81. The business has a 50 day moving average of $46.48 and a 200-day moving average of $43.09. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 8.02 and a beta of 1.43.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.53. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million.

Analysts Set New Price Targets

Separately, Benchmark upped their price objective on VEON from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th.

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.