Geode Capital Management LLC Cuts Position in VEON Ltd. (NASDAQ:VEON)

Geode Capital Management LLC trimmed its holdings in shares of VEON Ltd. (NASDAQ:VEON) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 42,068 shares of the Wireless communications provider’s stock after selling 1,496 shares during the period. Geode Capital Management LLC’s holdings in VEON were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VEON. Citigroup Inc. increased its position in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares in the last quarter. Samson Rock Capital LLP purchased a new stake in shares of VEON in the third quarter worth $913,000. Helikon Investments Ltd increased its holdings in shares of VEON by 1.8% during the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after acquiring an additional 49,680 shares in the last quarter. Lingotto Investment Management LLP raised its position 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 worth $139,754,000 after purchasing an additional 53,807 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in VEON in the 3rd quarter worth about $2,069,000. 21.30% of the stock is owned by institutional investors.

VEON Stock Performance

VEON stock opened at $44.60 on Friday. The stock’s 50 day simple moving average is $35.91 and its 200 day simple moving average is $30.87. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. VEON Ltd. has a 12-month low of $18.50 and a 12-month high of $46.49. The stock has a market capitalization of $3.30 billion, a PE ratio of 7.02 and a beta of 1.51.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Analyst Ratings Changes

Separately, Benchmark started coverage on shares of VEON in a research note on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective for the company.

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.