VEON Ltd. $VEON Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its VEON stake by 99% in the first quarter, selling 54,427 shares and retaining just 573 shares valued at approximately $27,000. Institutional investors and hedge funds collectively own 21.3% of VEON.
• Analyst sentiment is mixed: VEON has an average rating of “Hold” and a consensus price target of $72, with targets ranging from $70 to $74 and ratings spanning Buy, Hold, and Sell.
• VEON reported quarterly EPS of $1.69, exceeding the $1.46 consensus estimate, while revenue reached $1.27 billion versus expectations of $1.23 billion. Shares opened at $53.12, up 1.6%.

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in VEON Ltd. (NASDAQ:VEON - Free Report) by 99.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 573 shares of the Wireless communications provider's stock after selling 54,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in VEON were worth $27,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its stake in shares of VEON by 77.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider's stock valued at $11,862,000 after buying an additional 98,618 shares during the last quarter. Lingotto Investment Management LLP increased its stake in shares of VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider's stock worth $318,619,000 after buying an additional 16,758 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of VEON in the fourth quarter worth $1,293,000. K2 Principal Fund L.P. acquired a new stake in VEON in the fourth quarter valued at $1,015,000. Finally, Dorsey Wright & Associates boosted its stake in VEON by 45.7% during the 1st quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider's stock valued at $1,642,000 after acquiring an additional 11,129 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on VEON shares. Benchmark reissued a "buy" rating on shares of VEON in a report on Monday, June 15th. Wall Street Zen cut shares of VEON from a "buy" rating to a "hold" rating in a research report on Saturday. Northland Securities assumed coverage on VEON in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $70.00 price target for the company. Zacks Research lowered VEON from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 16th. Finally, Rothschild & Co Redburn set a $74.00 price objective on VEON and gave the company a "buy" rating in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.00.

VEON Stock Up 1.6%

Shares of NASDAQ:VEON opened at $53.12 on Tuesday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 62.49 and a beta of 1.65. VEON Ltd. has a 1-year low of $42.60 and a 1-year high of $64.00. The company's fifty day moving average is $52.43 and its two-hundred day moving average is $52.40. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.85 and a current ratio of 0.86.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 15.37%. During the same period in the previous year, the business posted $8.30 EPS. Equities analysts anticipate that VEON Ltd. will post 6.99 EPS for the current year.

VEON Company Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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