Insider Buying: VEON (NASDAQ:VEON) Director Buys $280,100.00 in Stock

VEON Ltd. (NASDAQ:VEON) Director Augie Fabela II purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $56.02 per share, for a total transaction of $280,100.00. Following the transaction, the director owned 96,000 shares of the company’s stock, valued at $5,377,920. The trade was a 5.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

VEON Price Performance

Shares of NASDAQ:VEON traded up $0.26 on Monday, reaching $57.36. 11,092 shares of the company traded hands, compared to its average volume of 94,510. VEON Ltd. has a fifty-two week low of $42.60 and a fifty-two week high of $64.00. The company’s 50 day moving average is $52.33 and its 200-day moving average is $52.43. The stock has a market capitalization of $4.24 billion, a PE ratio of 67.48 and a beta of 1.65. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. VEON had a return on equity of 14.93% and a net margin of 1.24%.During the same period last year, the company posted $8.30 EPS. As a group, analysts anticipate that VEON Ltd. will post 7.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VEON. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Northland Securities assumed coverage on shares of VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective for the company. Benchmark reiterated a “buy” rating on shares of VEON in a report on Monday, June 15th. Weiss Ratings downgraded shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of VEON from a “hold” rating to a “buy” rating in a report on Sunday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, VEON currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Institutional Trading of VEON

Several hedge funds and other institutional investors have recently modified their holdings of VEON. Osaic Holdings Inc. raised its position in VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after buying an additional 388 shares during the period. Royal Bank of Canada boosted its position in VEON by 184.3% during the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 1,576 shares during the period. Truist Financial Corp grew its stake in VEON by 5.1% during the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after acquiring an additional 195 shares in the last quarter. Personal CFO Solutions LLC grew its stake in VEON by 7.0% during the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock valued at $215,000 after acquiring an additional 268 shares in the last quarter. Finally, CWM LLC acquired a new position in shares of VEON in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.