American Century Companies Inc. increased its position in VNET Group, Inc. (NASDAQ:VNET - Free Report) by 20.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 474,929 shares of the information technology services provider's stock after buying an additional 80,516 shares during the quarter. American Century Companies Inc. owned about 0.18% of VNET Group worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in VNET. Catalina Capital Group LLC acquired a new stake in shares of VNET Group in the fourth quarter valued at about $54,000. Wolverine Trading LLC acquired a new stake in shares of VNET Group during the third quarter worth approximately $46,000. Blue Trust Inc. raised its holdings in VNET Group by 29.1% in the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider's stock valued at $257,000 after acquiring an additional 12,237 shares in the last quarter. Walleye Capital LLC acquired a new stake in VNET Group in the third quarter valued at $115,000. Finally, Asset Management One Co. Ltd. bought a new position in VNET Group during the 4th quarter valued at $152,000. Hedge funds and other institutional investors own 72.83% of the company's stock.
Analysts Set New Price Targets
VNET has been the subject of a number of research reports. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. Citigroup lifted their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $9.30.
Check Out Our Latest Report on VNET Group
VNET Group Stock Performance
VNET stock traded down $0.13 on Friday, reaching $5.54. The company's stock had a trading volume of 7,240,331 shares, compared to its average volume of 3,841,315. VNET Group, Inc. has a 52 week low of $1.42 and a 52 week high of $16.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $1.43 billion, a P/E ratio of -2.50, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. The firm has a fifty day moving average of $9.92 and a two-hundred day moving average of $6.33.
VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, analysts predict that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.
VNET Group Company Profile
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Free Report)
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.
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