VEON was first covered by the financial industry professionals working for StockNews.com in a report made available to the public on Friday (NASDAQ: VEON). The company has given the stock of the wireless communications provider a “strong buy” recommendation, meaning they think it is a good investment.
In recent months, the company’s stock market has been the focus of activity from several significant investors who have been buying and selling shares. During the second quarter of the current fiscal year, Exor Capital LLP completed the purchase of an additional 13.5% stake in VEON. After purchasing 14,354,043 additional shares during the most recent quarter, Exor Capital LLP now has a total of 120,785,818 shares of the stock of the wireless communications provider, which gives the company a value of $55,561,000. Because of this, the total number of shares the company possesses now amounts to 120,785,818. Kopernik Global Investors LLC saw a 445.1% increase in the size of its holdings in VEON during the first three months of the year 2018. Kopernik Global Investors LLC increased its holdings in the stock of the wireless communications provider by purchasing an additional 13,079,563 shares during the most recent quarter. As a result, the company now possesses 16,018,241 shares, with a value of $10,937,000. Solus Alternative Asset Management LP increased its total number of VEON shares during the second quarter by purchasing an additional 2,939,000 of the company’s shares, bringing its total number of VEON shares to 2,939,000. Allianz Asset Management GmbH acquired an additional 1,979.1% of VEON stock during the first three months of 2018, which resulted in the company’s ownership percentage growing by that amount. Allianz Asset Management GmbH now holds 5,498,638 of the company’s shares, giving it a market cap of $3,754,000 after purchasing an additional 5,234,162 shares during the most recent quarter. This brings the total number of shares held by Allianz Asset Management GmbH to 5,498,638. And finally, during the second quarter of 2018, JPMorgan Chase & Co. made a 167.0% increase in VEON stock, bringing its total percentage ownership to 100%. After purchasing an additional 2,037,914 shares during the most recent quarter, JPMorgan Chase & Co. now directly owns 3,258,461 shares of the stock of the Wireless communications provider, which have a value of $1,499,000. This brings the total number of shares directly owned by the company to 3,258,461. To the tune of 16.75% of the company’s stock, institutional investors and hedge funds collectively hold the company’s shares.
On Friday, the price of VEON remained the same as it had been the previous day, which was $0.46. The total number of shares traded by the company was 1,331,249, which is significantly lower than the daily volume of 9,907,170 shares. After a moving average of 50 days and 200 days, the price of a single share of the company’s stock is equal to $0.44. This is the case regardless of which moving average is used. Over the previous year, the price of VEON ranged from a low of $0.24 to a high of $1.78 at various points. The current ratio is 0.62, the quick ratio is 0.60, and the debt-to-equity ratio is 6.04. All three ratios are fairly close to one another. There is not much of a difference between any of the three ratios. The company is worth 810.20 million dollars and has a price-to-earnings ratio of 2.25, a beta of 1.64, and a value of those metrics.
Through its various wholly owned subsidiaries, VEON Ltd. is engaged in delivering fixed-line and mobile telecommunications services to its customers. In addition to other telecommunications services, such as phones, data, and other internet access methods are currently available. These access methods include wireless, fixed, and broadband connections. The company provides various value-added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance, machine-to-machine services, wireless internet access, mobile bundles, and call completion services. Short messages and multimedia messages are also included in this category.