Wellington Management Group LLP Purchases 44,013 Shares of VEON Ltd. (NASDAQ:VEON)

Wellington Management Group LLP lifted its holdings in shares of VEON Ltd. (NASDAQ:VEON) by 8.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 540,347 shares of the Wireless communications provider’s stock after purchasing an additional 44,013 shares during the period. Wellington Management Group LLP owned about 0.77% of VEON worth $10,645,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Shah Capital Management purchased a new stake in VEON during the 4th quarter valued at $97,544,000. Helikon Investments Ltd grew its stake in shares of VEON by 88.4% in the fourth quarter. Helikon Investments Ltd now owns 1,942,015 shares of the Wireless communications provider’s stock worth $38,258,000 after acquiring an additional 910,948 shares during the period. Monaco Asset Management SAM grew its position in VEON by 138.0% in the 4th 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. Gabelli Funds LLC increased its position in VEON by 10.1% during the fourth quarter. Gabelli Funds LLC now owns 109,040 shares of the Wireless communications provider’s stock valued at $2,148,000 after acquiring an additional 10,000 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in VEON in the fourth quarter valued at about $50,000. 21.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of VEON from a “buy” rating to a “hold” rating in a research report on Friday.

VEON Stock Performance

Shares of NASDAQ:VEON opened at $25.79 on Friday. VEON Ltd. has a 1-year low of $14.50 and a 1-year high of $27.90. The firm’s 50 day simple moving average is $25.45 and its two-hundred day simple moving average is $23.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.55.

About VEON

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.