K2 Principal Fund L.P. Makes New Investment in VEON Ltd. $VEON

K2 Principal Fund L.P. purchased a new position in VEON Ltd. (NASDAQ:VEON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,300 shares of the Wireless communications provider’s stock, valued at approximately $1,015,000.

A number of other large investors have also added to or reduced their stakes in the company. Lingotto Investment Management LLP grew its holdings in VEON by 0.3% in the 4th 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 last quarter. Shah Capital Management grew its holdings in VEON by 1.5% in the 4th quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock worth $257,343,000 after acquiring an additional 70,831 shares during the last quarter. Panview Capital Ltd boosted its stake in shares of VEON by 24.7% during the 4th quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after purchasing an additional 101,906 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of VEON by 31.5% during the 3rd quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock valued at $15,046,000 after purchasing an additional 66,153 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of VEON during the 3rd quarter valued at about $15,005,000. Institutional investors own 21.30% of the company’s stock.

VEON Trading Up 3.8%

Shares of VEON opened at $52.42 on Friday. The firm’s 50-day moving average price is $52.38 and its 200-day moving average price is $52.37. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 7.03 and a beta of 1.63. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. VEON Ltd. has a 1-year low of $34.55 and a 1-year high of $64.00.

VEON (NASDAQ:VEON) last posted its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. Sell-side analysts anticipate that VEON Ltd. will post 6.99 EPS for the current year.

Analyst Upgrades and Downgrades

VEON has been the topic of a number of research reports. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the company a “buy” rating in a research note on Thursday, April 16th. Wall Street Zen lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 26th. 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 target price on the stock. Weiss Ratings lowered shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered shares of VEON from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.00.

VEON 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.