Insider Buying: VEON (NASDAQ:VEON) Director Buys $840,000.00 in Stock

VEON Ltd. (NASDAQ:VEON) Director Augie Fabela II purchased 15,000 shares of VEON stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $56.00 per share, with a total value of $840,000.00. Following the completion of the transaction, the director owned 91,000 shares of the company’s stock, valued at $5,096,000. This represents a 19.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

VEON Stock Performance

NASDAQ:VEON traded up $0.26 during trading hours on Monday, reaching $57.36. The company had a trading volume of 11,092 shares, compared to its average volume of 94,510. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96. VEON Ltd. has a 1-year low of $42.60 and a 1-year high of $64.00. The business’s 50 day moving average price is $52.33 and its 200-day moving average price is $52.43. The firm has a market cap of $4.24 billion, a PE ratio of 67.57 and a beta of 1.65.

VEON (NASDAQ:VEON) last issued its quarterly earnings data 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. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same quarter last year, the company earned $8.30 EPS. Research analysts forecast that VEON Ltd. will post 7.28 EPS for the current year.

Institutional Investors Weigh In On VEON

A number of institutional investors have recently added to or reduced their stakes in VEON. Lingotto Investment Management LLP raised its position in VEON by 0.3% during the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after acquiring an additional 16,758 shares during the period. Wellington Management Group LLP grew its position in shares of VEON by 66.5% in the fourth quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock valued at $51,382,000 after purchasing an additional 390,294 shares during the period. Solus Alternative Asset Management LP grew its position in shares of VEON by 3.6% in the fourth quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock valued at $46,630,000 after purchasing an additional 30,900 shares during the period. Panview Capital Ltd increased its stake in shares of VEON by 24.7% during the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock worth $27,070,000 after purchasing an additional 101,906 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of VEON by 31.5% during the third quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock worth $15,046,000 after purchasing an additional 66,153 shares in the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Monday, June 15th. Northland Securities started coverage on shares of VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 target price on the stock. Weiss Ratings cut VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised VEON from a “hold” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

VEON Company Profile

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.