VEON (NASDAQ:VEON) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of VEON (NASDAQ:VEON) from a buy rating to a hold rating in a research note released on Wednesday morning.

VEON Stock Performance

Shares of NASDAQ VEON opened at $23.64 on Wednesday. VEON has a 12 month low of $14.50 and a 12 month high of $26.68. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50-day moving average of $24.11 and a 200-day moving average of $20.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VEON. Exor Capital LLP grew its holdings in shares of VEON by 8.5% during the fourth quarter. Exor Capital LLP now owns 131,068,288 shares of the Wireless communications provider’s stock worth $237,757,000 after purchasing an additional 10,282,470 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of VEON by 1,979.1% during the first quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock worth $3,754,000 after purchasing an additional 5,234,162 shares in the last quarter. Shah Capital Management purchased a new position in shares of VEON during the fourth quarter worth about $97,544,000. JPMorgan Chase & Co. grew its holdings in shares of VEON by 167.0% during the second quarter. JPMorgan Chase & Co. now owns 3,258,461 shares of the Wireless communications provider’s stock worth $1,499,000 after purchasing an additional 2,037,914 shares in the last quarter. Finally, Helikon Investments Ltd grew its holdings in shares of VEON by 88.4% during the fourth quarter. Helikon Investments Ltd now owns 1,942,015 shares of the Wireless communications provider’s stock worth $38,258,000 after purchasing an additional 910,948 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.