Envestnet Asset Management Inc. Makes New $300,000 Investment in VEON Ltd (NASDAQ:VEON)

Envestnet Asset Management Inc. bought a new position in shares of VEON Ltd (NASDAQ:VEON) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 124,919 shares of the Wireless communications provider’s stock, valued at approximately $300,000.

A number of other hedge funds have also bought and sold shares of VEON. FMR LLC lifted its holdings in shares of VEON by 8.6% in the first quarter. FMR LLC now owns 219,193 shares of the Wireless communications provider’s stock valued at $458,000 after purchasing an additional 17,387 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of VEON in the second quarter valued at about $615,000. NN Investment Partners Holdings N.V. bought a new stake in shares of VEON in the second quarter valued at about $1,680,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of VEON by 381.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,684,692 shares of the Wireless communications provider’s stock valued at $10,316,000 after purchasing an additional 2,919,723 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of VEON in the second quarter valued at about $3,801,000. Hedge funds and other institutional investors own 18.38% of the company’s stock.

NASDAQ:VEON opened at $2.42 on Friday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.41 and a current ratio of 0.44. The company has a market cap of $4.25 billion, a P/E ratio of -10.52 and a beta of 1.85. The stock’s 50-day simple moving average is $2.39 and its 200 day simple moving average is $2.57. VEON Ltd has a 52-week low of $2.07 and a 52-week high of $3.28.

A number of analysts have recently commented on the company. ValuEngine lowered VEON from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Zacks Investment Research lowered VEON from a “hold” rating to a “sell” rating in a report on Saturday. Sberbank CIB lowered VEON from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, BidaskClub upgraded VEON from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. VEON has an average rating of “Hold” and an average price target of $3.19.

VEON Company Profile

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

Further Reading: Dividend

Institutional Ownership by Quarter for VEON (NASDAQ:VEON)

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