StockNews.com Downgrades VEON (NASDAQ:VEON) to Hold

VEON (NASDAQ:VEON) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

VEON Price Performance

VEON stock opened at $25.94 on Friday. VEON has a twelve month low of $14.50 and a twelve month high of $27.90. The business’s 50-day simple moving average is $25.50 and its 200 day simple moving average is $23.28. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.97 and a quick ratio of 0.97.

Institutional Investors Weigh In On VEON

A number of institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in VEON during the fourth quarter worth about $50,000. Barclays PLC lifted its stake in VEON by 37.0% during the third quarter. Barclays PLC now owns 5,920 shares of the Wireless communications provider’s stock worth $115,000 after purchasing an additional 1,600 shares during the period. Gamco Investors INC. ET AL bought a new position in VEON during the first quarter worth about $376,000. Monaco Asset Management SAM lifted its stake in VEON by 138.0% during the fourth quarter. Monaco Asset Management SAM now owns 23,800 shares of the Wireless communications provider’s stock worth $469,000 after purchasing an additional 13,800 shares during the period. Finally, Gabelli Funds LLC lifted its stake in VEON by 10.1% during the fourth quarter. Gabelli Funds LLC now owns 109,040 shares of the Wireless communications provider’s stock worth $2,148,000 after purchasing an additional 10,000 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.