Lingotto Investment Management LLP Has $230.19 Million Position in VEON Ltd. (NASDAQ:VEON)

Lingotto Investment Management LLP increased its position in VEON Ltd. (NASDAQ:VEON) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,740,438 shares of the Wireless communications provider’s stock after acquiring an additional 159,714 shares during the period. VEON comprises approximately 6.2% of Lingotto Investment Management LLP’s holdings, making the stock its 5th largest position. Lingotto Investment Management LLP owned approximately 7.76% of VEON worth $230,192,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers raised its position in VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Samson Rock Capital LLP raised its holdings in shares of VEON by 20.0% during the fourth quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock valued at $1,444,000 after purchasing an additional 6,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in VEON by 100.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 720 shares during the period. R Squared Ltd purchased a new stake in VEON in the fourth quarter worth approximately $101,000. Finally, Helikon Investments Ltd boosted its holdings in VEON by 5.0% in the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after purchasing an additional 138,149 shares during the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Benchmark initiated coverage on VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price target on the stock.

VEON Price Performance

NASDAQ VEON opened at $45.97 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. VEON Ltd. has a 52 week low of $22.17 and a 52 week high of $48.39. The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.15 and a beta of 1.52. The company has a 50-day moving average price of $43.11 and a 200-day moving average price of $35.03.

VEON (NASDAQ:VEON) last released its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

VEON 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.