VEON Ltd. $VEON Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in VEON Ltd. by 22.3%, acquiring an additional 117,945 shares during the first quarter, bringing its total ownership to 647,096 shares valued at $28.2 million.
• VEON reported earnings of $8.30 EPS for the last quarter, significantly exceeding the consensus estimate of $0.95, along with revenue of $1.09 billion compared to the expected $1.02 billion.
• The stock has been rated as a Strong Buy by several brokerages, with an average price target of $60.00, indicating positive sentiment from analysts regarding VEON's prospects.

Wellington Management Group LLP lifted its position in shares of VEON Ltd. (NASDAQ:VEON - Free Report) by 22.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 647,096 shares of the Wireless communications provider's stock after buying an additional 117,945 shares during the period. Wellington Management Group LLP owned 0.87% of VEON worth $28,220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VEON. JPMorgan Chase & Co. lifted its stake in shares of VEON by 120.8% during 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 during the period. Geode Capital Management LLC lifted its stake in shares of VEON by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider's stock valued at $1,737,000 after buying an additional 1,254 shares during the period. Cyrus Capital Partners L.P. purchased a new position in shares of VEON during the fourth quarter valued at approximately $2,994,000. Jane Street Group LLC purchased a new position in shares of VEON during the fourth quarter valued at approximately $236,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of VEON during the fourth quarter valued at approximately $163,000. Hedge funds and other institutional investors own 21.30% of the company's stock.

VEON Trading Up 7.6%

Shares of VEON stock traded up $4.31 during mid-day trading on Thursday, reaching $60.69. The company's stock had a trading volume of 736,604 shares, compared to its average volume of 191,089. The company's 50 day simple moving average is $51.12 and its 200-day simple moving average is $47.50. VEON Ltd. has a 12-month low of $25.92 and a 12-month high of $64.00. The company has a quick ratio of 0.80, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $4.49 billion, a PE ratio of 4.45 and a beta of 1.50.

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

Analysts Set New Price Targets

A number of research firms have weighed in on VEON. Wall Street Zen raised shares of VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Benchmark reaffirmed a "buy" rating and set a $60.00 price target on shares of VEON in a research note on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Strong Buy" and a consensus target price of $60.00.

About VEON

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.