Wellington Management Group LLP Sells 7,081 Shares of VEON Ltd. (NASDAQ:VEON)

Wellington Management Group LLP cut its holdings in VEON Ltd. (NASDAQ:VEON) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 557,219 shares of the Wireless communications provider’s stock after selling 7,081 shares during the period. Wellington Management Group LLP owned approximately 0.75% of VEON worth $16,951,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Citigroup Inc. grew its position in shares of VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares in the last quarter. Samson Rock Capital LLP acquired a new stake in VEON during the third quarter worth approximately $913,000. Helikon Investments Ltd grew its position in VEON by 1.8% during the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after buying an additional 49,680 shares in the last quarter. Lingotto Investment Management LLP increased its stake in VEON by 1.0% during 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 acquiring an additional 53,807 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in VEON in the 3rd quarter valued at $2,069,000. 21.30% of the stock is owned by institutional investors.

VEON Stock Down 1.7 %

Shares of NASDAQ:VEON opened at $36.47 on Friday. The firm has a 50 day moving average of $32.30 and a 200-day moving average of $29.07. VEON Ltd. has a 12 month low of $18.50 and a 12 month high of $38.00. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77.

Wall Street Analyst Weigh In

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