Arrowstreet Capital Limited Partnership acquired a new position in VNET Group, Inc. (NASDAQ:VNET - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 382,045 shares of the information technology services provider's stock, valued at approximately $1,811,000. Arrowstreet Capital Limited Partnership owned 0.15% of VNET Group as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Wolverine Trading LLC acquired a new stake in VNET Group in the 3rd quarter worth $46,000. Catalina Capital Group LLC bought a new stake in shares of VNET Group in the fourth quarter valued at about $54,000. Walleye Capital LLC acquired a new stake in VNET Group during the third quarter worth about $115,000. Asset Management One Co. Ltd. bought a new position in VNET Group during the fourth quarter valued at about $152,000. Finally, Public Employees Retirement System of Ohio acquired a new position in VNET Group in the 3rd quarter valued at approximately $191,000. 72.83% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on VNET. Nomura Securities raised VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Citigroup boosted their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, StockNews.com downgraded 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $9.30.
Read Our Latest Stock Analysis on VNET
VNET Group Price Performance
Shares of NASDAQ VNET traded down $0.05 during mid-day trading on Tuesday, hitting $5.45. 3,485,020 shares of the stock were exchanged, compared to its average volume of 9,931,335. VNET Group, Inc. has a twelve month low of $1.42 and a twelve month high of $16.13. The stock's fifty day simple moving average is $9.86 and its two-hundred day simple moving average is $6.36. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $1.40 billion, a P/E ratio of -2.45, a PEG ratio of 1.01 and a beta of 0.15.
VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results 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 business had revenue of $307.75 million for the quarter, compared to analyst estimates 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 forecast that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.
About VNET Group
(
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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