American Century Companies Inc. Purchases 1,101,137 Shares of VNET Group, Inc. – Unsponsored ADR $VNET

American Century Companies Inc. increased its holdings in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 180.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,711,976 shares of the information technology services provider’s stock after acquiring an additional 1,101,137 shares during the period. American Century Companies Inc. owned about 0.64% of VNET Group worth $17,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DNB Asset Management AS bought a new position in VNET Group in the 3rd quarter valued at $1,744,000. Fox Run Management L.L.C. bought a new stake in shares of VNET Group during the third quarter worth $176,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of VNET Group in the third quarter valued at $310,000. WT Asset Management Ltd increased its stake in shares of VNET Group by 700.0% in the third quarter. WT Asset Management Ltd now owns 400,000 shares of the information technology services provider’s stock valued at $4,132,000 after buying an additional 350,000 shares in the last quarter. Finally, Persistent Asset Partners Ltd bought a new position in shares of VNET Group in the third quarter valued at about $100,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.30.

VNET Group Trading Up 14.7%

NASDAQ:VNET opened at $11.23 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $4.65 and a 1-year high of $14.48. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -37.43, a PEG ratio of 0.76 and a beta of 0.01. The business’s 50-day moving average price is $10.97 and its two-hundred day moving average price is $9.82.

VNET Group Company Profile

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.