Today, VimpelCom Ltd. (VIP) gets “Sell” status at The Zacks Investment Research

Today, VimpelCom Ltd. (VIP) gets “Sell” status at The Zacks Investment Research

VimpelCom Ltd. (NASDAQ:VIP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “VimpelCom Ltd. is one of the world’s largest integrated telecommunications services operators. It offers a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom provides services under the Beeline, Kyivstar, djuice, Wind, Infostrada Mobilink, Leo, Banglalink, Telecel, and Djezzy brands. VimpelCom Ltd. is headquartered in Amsterdam, the Netherlands. “

A number of other brokerages also recently commented on VIP. Bank of America Corp. set a $5.60 price objective on shares of VimpelCom and gave the company a “buy” rating in a research report on Monday, September 12th. Citigroup Inc. raised shares of VimpelCom from a “neutral” rating to a “buy” rating in a research report on Thursday, November 3rd. Morgan Stanley began coverage on shares of VimpelCom in a research report on Thursday, September 8th. They issued an “overweight” rating and a $5.70 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $8.00 price objective on shares of VimpelCom in a research report on Monday, November 7th. Finally, Renaissance Capital raised shares of VimpelCom from a “hold” rating to a “buy” rating and decreased their price objective for the company from $5.10 to $4.30 in a research report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. VimpelCom currently has an average rating of “Buy” and a consensus price target of $5.42.

VimpelCom (NASDAQ:VIP) opened at 3.35 on Friday. VimpelCom has a 52-week low of $2.71 and a 52-week high of $4.51. The company has a 50-day moving average of $0.00 and a 200 day moving average of $0.00.

The firm also recently disclosed a dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Friday, November 18th will be issued a $0.026 dividend. The ex-dividend date is Wednesday, November 16th.

A number of hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its stake in VimpelCom by 37.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,385 shares of the company’s stock worth $102,000 after buying an additional 7,136 shares in the last quarter. U S Global Investors Inc. acquired a new stake in VimpelCom during the third quarter worth about $162,000. Allianz Asset Management AG acquired a new stake in VimpelCom during the second quarter worth about $182,000. BNP Paribas Arbitrage SA increased its stake in VimpelCom by 48.3% in the second quarter. BNP Paribas Arbitrage SA now owns 47,202 shares of the company’s stock worth $183,000 after buying an additional 15,381 shares in the last quarter. Finally, Carl Domino Inc increased its stake in VimpelCom by 63.9% in the third quarter. Carl Domino Inc now owns 59,000 shares of the company’s stock worth $206,000 after buying an additional 23,000 shares in the last quarter. 7.01% of the stock is owned by hedge funds and other institutional investors.

About VimpelCom

VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.

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