VEON Ltd. (NASDAQ:VEON – Get Free Report)’s share price dropped 3.5% on Wednesday . The stock traded as low as $29.98 and last traded at $30.20. Approximately 7,114 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 30,699 shares. The stock had previously closed at $31.30.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th.
Read Our Latest Stock Report on VEON
VEON Stock Performance
VEON (NASDAQ:VEON – Get Free Report) last released its quarterly earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share for the quarter. The firm had revenue of $1.03 billion for the quarter.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd grew its stake in VEON by 30.4% in the first quarter. Helikon Investments Ltd now owns 2,533,075 shares of the Wireless communications provider’s stock valued at $60,819,000 after purchasing an additional 591,060 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after buying an additional 53,807 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of VEON by 8.9% in the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock valued at $10,645,000 after buying an additional 44,013 shares in the last quarter. Samson Rock Capital LLP acquired a new position in VEON during the third quarter worth $913,000. Finally, Gabelli Funds LLC raised its position in VEON by 18.8% during the first quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock worth $3,109,000 after acquiring an additional 20,456 shares in the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.
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.
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