Pinnacle Associates Ltd. Invests $405,000 in VimpelCom Ltd. (VEON)

Pinnacle Associates Ltd. acquired a new position in shares of VimpelCom Ltd. (NASDAQ:VEON) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 99,289 shares of the Wireless communications provider’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in VimpelCom during the first quarter worth approximately $117,000. Oxford Asset Management acquired a new position in VimpelCom during the first quarter worth approximately $152,000. Carl Domino Inc acquired a new position in VimpelCom during the first quarter worth approximately $237,000. State of New Jersey Common Pension Fund D acquired a new position in VimpelCom during the first quarter worth approximately $300,000. Finally, World Asset Management Inc acquired a new position in VimpelCom during the first quarter worth approximately $446,000. Hedge funds and other institutional investors own 10.15% of the company’s stock.

Institutional Ownership by Quarter for VimpelCom (NASDAQ:VEON)

VimpelCom Ltd. (NASDAQ:VEON) traded down 0.26% during mid-day trading on Friday, hitting $3.77. The stock had a trading volume of 10,908,959 shares. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 3.10 and a beta of 2.33. The company has a 50 day moving average price of $3.94 and a 200-day moving average price of $3.98. VimpelCom Ltd. has a one year low of $3.12 and a one year high of $4.51.

VimpelCom (NASDAQ:VEON) last released its quarterly earnings results on Thursday, May 11th. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. VimpelCom had a net margin of 23.33% and a negative return on equity of 7.27%. The firm had revenue of $2.28 billion for the quarter.

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A number of analysts have issued reports on the company. ING Group assumed coverage on VimpelCom in a research report on Friday, March 10th. They issued a “buy” rating and a $5.80 target price on the stock. Credit Suisse Group reissued a “buy” rating and issued a $5.00 target price on shares of VimpelCom in a research report on Thursday, March 30th. Zacks Investment Research raised VimpelCom from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Thursday, March 16th. Royal Bank of Canada reissued a “buy” rating and issued a $6.50 target price on shares of VimpelCom in a research report on Thursday, May 18th. Finally, Renaissance Capital lowered VimpelCom from an “outperform” rating to a “market perform” rating and set a $4.60 target price on the stock. in a research report on Thursday, March 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.22.

VimpelCom Company Profile

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