Today, The Zacks Investment Research Downgraded VimpelCom Ltd. (VIP) to Sell

Today, The Zacks Investment Research Downgraded VimpelCom Ltd. (VIP) to Sell
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. “

Other equities research analysts also recently issued reports about the company. Citigroup Inc. raised VimpelCom from a “neutral” rating to a “buy” rating in a report on Thursday, November 3rd. VTB Capital raised VimpelCom from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Renaissance Capital upgraded VimpelCom from a “hold” rating to a “buy” rating and cut their price objective for the stock from $5.10 to $4.30 in a research report on Wednesday, September 14th. Bank of America Corp. set a $5.60 price objective on VimpelCom and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $8.00 price objective on shares of VimpelCom in a research report on Monday, November 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $5.42.

VimpelCom (NASDAQ:VIP) opened at 3.35 on Friday. VimpelCom has a 12 month low of $2.71 and a 12 month high of $4.51. The stock’s 50 day moving average is $0.00 and its 200 day moving average is $0.00.

The business also recently disclosed a dividend, which will be paid on Wednesday, December 7th. Investors of record on Friday, November 18th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Wednesday, November 16th.

A number of hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted 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. bought a new stake in VimpelCom during the third quarter worth approximately $162,000. Allianz Asset Management AG bought a new stake in VimpelCom during the second quarter worth approximately $182,000. BNP Paribas Arbitrage SA boosted 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 boosted 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. Hedge funds and other institutional investors own 7.01% of the company’s stock.

VimpelCom Company Profile

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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