JPMorgan Chase & Co. grew its holdings in VNET Group, Inc. (NASDAQ:VNET - Free Report) by 622.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 989,402 shares of the information technology services provider's stock after purchasing an additional 852,519 shares during the period. JPMorgan Chase & Co. owned approximately 0.38% of VNET Group worth $4,690,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Catalina Capital Group LLC purchased a new stake in VNET Group during the 4th quarter worth about $54,000. Blue Trust Inc. increased its holdings in shares of VNET Group by 29.1% in the 4th 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 during the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of VNET Group in the 4th quarter valued at about $152,000. Public Employees Retirement System of Ohio purchased a new position in shares of VNET Group in the 3rd quarter valued at about $191,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of VNET Group in the 4th quarter valued at about $294,000. Institutional investors and hedge funds own 72.83% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on VNET. Citigroup raised their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. StockNews.com downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Finally, Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, VNET Group currently has an average rating of "Buy" and an average price target of $9.30.
Check Out Our Latest Stock Analysis on VNET Group
VNET Group Price Performance
NASDAQ:VNET traded up $0.21 during mid-day trading on Thursday, hitting $5.50. 1,500,845 shares of the company's stock traded hands, compared to its average volume of 4,059,416. 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 simple moving average is $9.10 and its 200 day simple moving average is $6.37. VNET Group, Inc. has a 1 year low of $1.48 and a 1 year high of $16.13. The company has a market cap of $1.41 billion, a PE ratio of -2.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15.
VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) 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 company had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. Sell-side analysts expect that VNET Group, Inc. will post -0.06 EPS for the current 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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