Vodafone Group (NASDAQ:VOD) Shares Gap Down - Time to Sell?

Key Points

• Vodafone shares fell 5.4%, opening at $15.78 versus a prior close of $16.48, and last traded near $15.77.
• Analyst sentiment is mixed, with three Buy, three Hold, and four Sell ratings; the overall consensus is “Reduce” with an average price target of $10.57.
• Institutional investors own 7.84% of Vodafone, while several hedge funds increased their positions during recent quarters.

Shares of Vodafone Group PLC (NASDAQ:VOD - Get Free Report) gapped down before the market opened on Friday. The stock had previously closed at $16.48, but opened at $15.78. Vodafone Group shares last traded at $15.7650, with a volume of 789,470 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Vodafone Group from a "sell" rating to a "buy" rating in a report on Friday, September 4th. Zacks Research lowered Vodafone Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 17th. Barclays downgraded shares of Vodafone Group from an "overweight" rating to an "equal weight" rating in a report on Thursday, June 11th. New Street Research upgraded shares of Vodafone Group from a "neutral" rating to a "buy" rating in a research note on Friday, July 10th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Vodafone Group in a report on Tuesday, September 1st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Vodafone Group presently has a consensus rating of "Reduce" and an average target price of $10.57.

Vodafone Group Stock Down 5.4%

The business's 50 day moving average is $16.44 and its two-hundred day moving average is $15.50. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Hedge Funds Weigh In On Vodafone Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ACR Alpine Capital Research LLC grew its position in Vodafone Group by 3.0% during the first 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 acquiring an additional 784,305 shares during the last quarter. ABC Arbitrage SA boosted its stake in shares of Vodafone Group by 3.1% in the 1st quarter. ABC Arbitrage SA now owns 3,326,511 shares of the cell phone carrier's stock valued at $49,964,000 after purchasing an additional 98,922 shares in the last quarter. Capital Wealth Planning LLC grew its holdings in shares of Vodafone Group by 87.2% during the 4th quarter. Capital Wealth Planning LLC now owns 1,028,112 shares of the cell phone carrier's stock valued at $13,715,000 after purchasing an additional 478,977 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Vodafone Group by 72.4% during the 1st quarter. Sei Investments Co. now owns 866,316 shares of the cell phone carrier's stock valued at $13,014,000 after purchasing an additional 363,694 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Vodafone Group by 6.9% during the first quarter. Ritholtz Wealth Management now owns 745,428 shares of the cell phone carrier's stock valued at $11,196,000 after buying an additional 48,076 shares during the period. Hedge funds and other institutional investors own 7.84% of the company's stock.

Vodafone Group Company Profile

Vodafone Group Plc is a telecommunications company headquartered in the United Kingdom. It provides mobile voice and data services, fixed-line broadband, digital television and related communications services to consumers and businesses.

The company also serves enterprise customers through Vodafone Business, offering connectivity, cloud and hosting services, cybersecurity, unified communications, and Internet of Things solutions. Vodafone's operations and partnerships span several European markets and countries in Africa, with services delivered through mobile and fixed networks.

Vodafone traces its origins to the mobile telecommunications business of Racal Electronics and became an independent company in 1991.

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.