Vanguard Group Inc. Has $45.06 Million Position in VNET Group, Inc. – Unsponsored ADR $VNET

Vanguard Group Inc. boosted its stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,495,446 shares of the information technology services provider’s stock after acquiring an additional 278,496 shares during the quarter. Vanguard Group Inc. owned approximately 2.13% of VNET Group worth $45,063,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of VNET. Barclays PLC boosted its stake in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in VNET Group during the 4th quarter worth approximately $41,000. Hsbc Holdings PLC bought a new stake in shares of VNET Group during the fourth quarter worth $66,000. Tower Research Capital LLC TRC acquired a new stake in shares of VNET Group in the 4th quarter valued at about $80,000. Finally, Bingham Private Wealth LLC acquired a new stake in VNET Group in the 1st quarter valued at approximately $86,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Down 5.4%

Shares of NASDAQ VNET opened at $7.84 on Tuesday. The stock has a 50-day moving average price of $7.55 and a two-hundred day moving average price of $7.81. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -98.00, a PEG ratio of 5.76 and a beta of 0.18. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $2.00 and a 12 month high of $16.13. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40.

VNET Group (NASDAQ:VNET) last issued its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). VNET Group had a net margin of 0.74% and a return on equity of 0.98%. The company had revenue of $339.65 million during the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. As a group, analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

VNET Group announced that its board has approved a stock repurchase program on Friday, June 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

VNET has been the topic of several analyst reports. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America raised their price target on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, VNET Group presently has a consensus rating of “Buy” and a consensus target price of $9.96.

VNET Group Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.