Insider Buying: VEON (NASDAQ:VEON) Director Buys $280,100.00 in Stock

VEON Ltd. (NASDAQ:VEON) Director Augie Fabela II bought 5,000 shares of VEON stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $56.02 per share, with a total value of $280,100.00. Following the completion of the purchase, the director owned 96,000 shares in the company, valued at approximately $5,377,920. The trade was a 5.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

VEON Trading Up 0.6%

NASDAQ VEON opened at $56.93 on Thursday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 66.98 and a beta of 1.65. VEON Ltd. has a 12 month low of $42.60 and a 12 month high of $64.00. The company’s fifty day moving average price is $52.46 and its two-hundred day moving average price is $52.47.

VEON (NASDAQ:VEON) last released its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $8.30 EPS. As a group, research analysts predict that VEON Ltd. will post 7.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VEON shares. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a report on Sunday. Northland Securities initiated coverage on shares of VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective on the stock. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Benchmark restated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Finally, Rothschild & Co Redburn set a $74.00 price target on VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, VEON currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Institutional Trading of VEON

Large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in VEON by 66.5% in the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock worth $51,382,000 after purchasing an additional 390,294 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of VEON in the 3rd quarter worth $15,005,000. Panview Capital Ltd lifted its holdings in VEON by 24.7% in the 4th quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after acquiring an additional 101,906 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in VEON by 77.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock valued at $11,862,000 after purchasing an additional 98,618 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of VEON by 275.3% during the 3rd quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock worth $7,265,000 after acquiring an additional 97,913 shares in the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.