Connor Clark & Lunn Investment Management Ltd. boosted its holdings in VNET Group, Inc. (NASDAQ:VNET - Free Report) by 472.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,801 shares of the information technology services provider's stock after purchasing an additional 230,068 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of VNET Group worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in VNET. Wolverine Trading LLC bought a new position in shares of VNET Group in the 3rd quarter valued at about $46,000. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 4th quarter valued at about $54,000. Walleye Capital LLC bought a new position in shares of VNET Group in the 3rd quarter valued at about $115,000. Asset Management One Co. Ltd. bought a new position in shares of VNET Group in the 4th quarter valued at about $152,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of VNET Group in the 3rd quarter valued at about $191,000. Institutional investors own 72.83% of the company's stock.
VNET Group Stock Performance
Shares of VNET stock traded down $0.15 during midday trading on Friday, hitting $8.71. 10,251,821 shares of the company were exchanged, compared to its average volume of 3,253,065. 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 quick ratio of 0.83 and a current ratio of 0.83. The firm's 50 day moving average price is $9.67 and its two-hundred day moving average price is $5.86. The firm has a market capitalization of $2.24 billion, a P/E ratio of -3.92, a PEG ratio of 1.01 and a beta of 0.07.
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 the consensus estimate of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The business had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. As a group, equities research analysts anticipate that VNET Group, Inc. will post -0.06 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Citigroup lifted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 14th. The Goldman Sachs Group raised shares of VNET Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $3.10 to $5.00 in a report on Friday, November 29th. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Finally, UBS Group lifted their target price on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $9.30.
Read Our Latest Research Report on VNET
VNET Group Company Profile
(
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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