VNET Group, Inc. – Unsponsored ADR $VNET Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 47.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 625,790 shares of the information technology services provider’s stock after selling 559,784 shares during the period. Pacer Advisors Inc. owned approximately 0.23% of VNET Group worth $6,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,426 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of VNET Group by 16.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 2,100 shares during the period. Bingham Private Wealth LLC boosted its position in shares of VNET Group by 24.3% during the 2nd quarter. Bingham Private Wealth LLC now owns 13,050 shares of the information technology services provider’s stock valued at $90,000 after acquiring an additional 2,547 shares during the last quarter. Main Management ETF Advisors LLC grew its holdings in shares of VNET Group by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 168,548 shares of the information technology services provider’s stock valued at $1,163,000 after purchasing an additional 2,736 shares during the period. Finally, Personal CFO Solutions LLC grew its holdings in shares of VNET Group by 9.3% in the second quarter. Personal CFO Solutions LLC now owns 34,505 shares of the information technology services provider’s stock valued at $238,000 after purchasing an additional 2,933 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on VNET shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 22nd. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.30.

VNET Group Price Performance

Shares of VNET opened at $8.69 on Monday. The firm has a 50-day simple moving average of $9.15 and a two-hundred day simple moving average of $8.56. The stock has a market cap of $2.34 billion, a PE ratio of -28.97, a P/E/G ratio of 1.83 and a beta of 0.03. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $4.03 and a 1-year high of $16.13. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $362.63 million during the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. As a group, analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.