Aperture Investors LLC Purchases Shares of 182,485 VNET Group, Inc. – Unsponsored ADR $VNET

Aperture Investors LLC acquired a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 182,485 shares of the information technology services provider’s stock, valued at approximately $1,259,000. Aperture Investors LLC owned approximately 0.07% of VNET Group at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in VNET Group during the 2nd quarter valued at $54,199,000. Canada Pension Plan Investment Board purchased a new stake in VNET Group during the 1st quarter worth about $27,463,000. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in VNET Group during the 1st quarter worth about $27,210,000. Oxbow Capital Management HK Ltd raised its stake in VNET Group by 64.3% in the 2nd quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock valued at $39,675,000 after purchasing an additional 2,250,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in VNET Group by 2,304,491.9% in the 1st quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider’s stock valued at $13,985,000 after purchasing an additional 1,705,324 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Stock Up 2.0%

Shares of VNET opened at $9.52 on Wednesday. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $3.52 and a fifty-two week high of $16.13. The company’s fifty day moving average is $9.42 and its two-hundred day moving average is $8.29. The firm has a market cap of $2.56 billion, a PE ratio of -31.73, a price-to-earnings-growth ratio of 4.82 and a beta of 0.03. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88.

VNET Group (NASDAQ:VNET) last issued its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%.The business had revenue of $362.63 million for the quarter, compared to analyst estimates of $335.87 million. Analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VNET. Wall Street Zen downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Tuesday, December 2nd. Finally, Bank of America boosted their price target on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.30.

VNET Group Company 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.