Vest Financial LLC Purchases New Stake in Vodafone Group PLC $VOD

Key Points

• Vest Financial LLC purchased 112,297 Vodafone Group shares during the third quarter, valued at approximately $1.8 million, according to its SEC 13F filing.
• Other institutional investors also increased their Vodafone positions, but institutional and hedge-fund ownership remains relatively low at 7.84% of outstanding shares.
• Analyst sentiment is broadly negative: Vodafone has an average “Reduce” rating and a consensus price target of $13.13, below its reported market price of $15.74.

Vest Financial LLC purchased a new stake in Vodafone Group PLC (NASDAQ:VOD - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 112,297 shares of the cell phone carrier's stock, valued at approximately $1,814,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VOD. Euro Pacific Asset Management LLC lifted its holdings in Vodafone Group by 45,047.5% in the third quarter. Euro Pacific Asset Management LLC now owns 7,018,174 shares of the cell phone carrier's stock valued at $113,344,000 after acquiring an additional 7,002,629 shares during the period. ACR Alpine Capital Research LLC increased its holdings in shares of Vodafone Group by 3.0% in the 1st quarter. ACR Alpine Capital Research LLC now owns 26,854,952 shares of the cell phone carrier's stock valued at $403,361,000 after purchasing an additional 784,305 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Vodafone Group by 7,003.0% in the 2nd quarter. Merit Financial Group LLC now owns 788,577 shares of the cell phone carrier's stock valued at $10,429,000 after purchasing an additional 777,475 shares in the last quarter. Independent Financial Group LLC acquired a new stake in shares of Vodafone Group in the first quarter valued at about $8,406,000. Finally, Amundi acquired a new stake in shares of Vodafone Group in the first quarter valued at about $8,060,000. Institutional investors and hedge funds own 7.84% of the company's stock.

Vodafone Group Stock Performance

NASDAQ:VOD opened at $15.74 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Vodafone Group PLC has a 52-week low of $11.12 and a 52-week high of $17.71. The stock has a fifty day simple moving average of $16.41 and a 200-day simple moving average of $15.57.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. DZ Bank restated a "neutral" rating on shares of Vodafone Group in a research report on Monday, August 17th. The Goldman Sachs Group upgraded shares of Vodafone Group from a "sell" rating to a "buy" rating in a research report on Friday, September 4th. JPMorgan Chase & Co. reissued a "sell" rating on shares of Vodafone Group in a research note on Monday, July 27th. Zacks Research lowered Vodafone Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, September 17th. Finally, Wall Street Zen cut Vodafone Group from a "buy" rating to a "hold" rating in a report on Tuesday, September 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $13.13.

About Vodafone Group

Vodafone Group Plc is a telecommunications company headquartered in Newbury, England. It provides mobile and fixed-line connectivity, broadband, voice and messaging services, digital communications, and related technology solutions to consumers, businesses, and public-sector organizations.

The company operates primarily across Europe and Africa. Its consumer businesses offer mobile plans, home broadband, television and other digital services, while Vodafone Business provides connectivity, cloud, cybersecurity, Internet of Things, unified communications, and managed technology services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.