JPMorgan Chase & Co. lessened its position in shares of VEON Ltd (NASDAQ:VEON) by 11.6% during the third quarter, HoldingsChannel.com reports. The fund owned 3,059,292 shares of the Wireless communications provider’s stock after selling 401,992 shares during the period. JPMorgan Chase & Co.’s holdings in VEON were worth $8,872,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ bought a new stake in VEON during the 3rd quarter worth approximately $3,302,000. Exor Investments UK LLP increased its holdings in shares of VEON by 3.8% in the 3rd quarter. Exor Investments UK LLP now owns 37,657,792 shares of the Wireless communications provider’s stock worth $109,208,000 after buying an additional 1,390,000 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of VEON by 85.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 63,137 shares of the Wireless communications provider’s stock worth $150,000 after buying an additional 29,164 shares during the last quarter. Morgan Stanley increased its holdings in shares of VEON by 9.2% in the 2nd quarter. Morgan Stanley now owns 19,187,951 shares of the Wireless communications provider’s stock worth $45,667,000 after buying an additional 1,608,650 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its holdings in shares of VEON by 92.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,347,491 shares of the Wireless communications provider’s stock worth $5,583,000 after buying an additional 1,126,100 shares during the last quarter. 15.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:VEON opened at $2.51 on Thursday. The firm has a market capitalization of $4.41 billion, a PE ratio of 41.92 and a beta of 2.14. VEON Ltd has a one year low of $2.20 and a one year high of $4.11. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.95 and a current ratio of 0.98.

VEON (NASDAQ:VEON) last released its earnings results on Thursday, November 8th. The Wireless communications provider reported ($0.41) EPS for the quarter. VEON had a negative net margin of 0.70% and a negative return on equity of 34.57%. The business had revenue of $2.32 billion for the quarter. Research analysts expect that VEON Ltd will post 0.26 EPS for the current fiscal year.

A number of equities analysts have recently commented on the stock. BidaskClub raised shares of VEON from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Zacks Investment Research lowered shares of VEON from a “buy” rating to a “hold” rating in a report on Friday, September 21st. HSBC raised shares of VEON from a “hold” rating to a “buy” rating in a report on Monday, August 20th. ValuEngine raised shares of VEON from a “hold” rating to a “buy” rating in a report on Monday, November 12th. Finally, Goldman Sachs Group lowered shares of VEON from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. VEON currently has an average rating of “Hold” and a consensus target price of $3.50.

ILLEGAL ACTIVITY NOTICE: This story was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://theolympiareport.com/2018/12/13/jpmorgan-chase-co-has-8-87-million-position-in-veon-ltd-veon.html.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

Featured Article: Are Wall Street analysts’ stock ratings worth following?

Want to see what other hedge funds are holding VEON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VEON Ltd (NASDAQ:VEON).

Institutional Ownership by Quarter for VEON (NASDAQ:VEON)

Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.