Walleye Capital LLC Purchases 26,784 Shares of VEON Ltd. $VEON

Key Points

• Walleye Capital LLC increased its stake in VEON Ltd. by 407.2% during the first quarter, owning 33,362 shares valued at approximately $1.46 million.
• VEON reported $8.30 EPS for the last quarter, significantly exceeding analyst estimates, with a revenue of $1.09 billion against expectations of $1.02 billion.
• Recent analyst reports reflect a consensus rating of "Strong Buy" for VEON, with an average price target set at $60.00.

Walleye Capital LLC grew its position in VEON Ltd. (NASDAQ:VEON - Free Report) by 407.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,362 shares of the Wireless communications provider's stock after acquiring an additional 26,784 shares during the quarter. Walleye Capital LLC's holdings in VEON were worth $1,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VEON. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 635 shares during the period. BNP Paribas Financial Markets purchased a new position in VEON in the 4th quarter worth about $163,000. JPMorgan Chase & Co. increased its stake in VEON by 120.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock worth $235,000 after buying an additional 3,200 shares during the period. Jane Street Group LLC purchased a new position in VEON in the 4th quarter worth about $236,000. Finally, Cubist Systematic Strategies LLC purchased a new position in VEON in the 4th quarter worth about $245,000. Hedge funds and other institutional investors own 21.30% of the company's stock.

VEON Stock Up 1.4%

VEON stock traded up $0.79 during midday trading on Wednesday, hitting $55.96. 96,907 shares of the company's stock were exchanged, compared to its average volume of 190,474. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.80 and a current ratio of 0.87. VEON Ltd. has a 12 month low of $25.92 and a 12 month high of $64.00. The firm has a 50-day moving average of $52.57 and a two-hundred day moving average of $47.92. The company has a market cap of $4.14 billion, a PE ratio of 4.13 and a beta of 1.63.

VEON (NASDAQ:VEON - Get Free Report) last issued its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $7.35. VEON had a net margin of 23.75% and a return on equity of 72.76%. The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

Several research analysts recently commented on VEON shares. Benchmark reaffirmed a "buy" rating and issued a $60.00 price target on shares of VEON in a research note on Monday, June 16th. Wall Street Zen raised shares of VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Finally, Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $60.00.

VEON Company 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.