Gabelli Funds LLC Boosts Stake in VEON Ltd (VEON)

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Gabelli Funds LLC grew its stake in shares of VEON Ltd (NASDAQ:VEON) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,489,100 shares of the Wireless communications provider’s stock after acquiring an additional 240,100 shares during the period. Gabelli Funds LLC owned about 0.14% of VEON worth $5,924,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Atria Investments LLC lifted its position in shares of VEON by 107.8% during the 1st quarter. Atria Investments LLC now owns 41,929 shares of the Wireless communications provider’s stock valued at $111,000 after acquiring an additional 21,748 shares during the period. UBS Group AG lifted its position in shares of VEON by 45.4% during the 1st quarter. UBS Group AG now owns 78,632 shares of the Wireless communications provider’s stock valued at $208,000 after acquiring an additional 24,555 shares during the period. JPMorgan Chase & Co. lifted its position in shares of VEON by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 881,488 shares of the Wireless communications provider’s stock valued at $2,328,000 after acquiring an additional 26,719 shares during the period. Allianz Asset Management GmbH lifted its position in shares of VEON by 2.0% during the 1st quarter. Allianz Asset Management GmbH now owns 1,482,169 shares of the Wireless communications provider’s stock valued at $3,912,000 after acquiring an additional 29,084 shares during the period. Finally, FDx Advisors Inc. lifted its position in shares of VEON by 53.5% during the 1st quarter. FDx Advisors Inc. now owns 99,346 shares of the Wireless communications provider’s stock valued at $262,000 after acquiring an additional 34,613 shares during the period. Institutional investors own 14.18% of the company’s stock.

Shares of VEON opened at $2.92 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 3.02. VEON Ltd has a 1-year low of $2.20 and a 1-year high of $4.47.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, August 2nd. The Wireless communications provider reported $0.02 earnings per share for the quarter. VEON had a negative net margin of 5.38% and a negative return on equity of 8.79%. The business had revenue of $2.27 billion during the quarter. analysts forecast that VEON Ltd will post 0.16 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of VEON from a “sell” rating to a “hold” rating in a research note on Thursday, June 14th. JPMorgan Chase & Co. raised shares of VEON from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 3rd. BidaskClub cut shares of VEON from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 14th. Goldman Sachs Group raised shares of VEON from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Thursday, July 5th. Finally, Bank of America cut shares of VEON from a “buy” rating to a “neutral” rating in a research note on Thursday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $3.50.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

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Institutional Ownership by Quarter for VEON (NASDAQ:VEON)

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