Los Angeles Capital Management LLC Invests $294,000 in VNET Group, Inc. (NASDAQ:VNET)

Los Angeles Capital Management LLC purchased a new position in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 62,119 shares of the information technology services provider's stock, valued at approximately $294,000.

Several other large investors also recently modified their holdings of the stock. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the 4th quarter worth approximately $54,000. Wolverine Trading LLC purchased a new position in VNET Group in the 3rd quarter valued at approximately $46,000. Blue Trust Inc. grew its stake in 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 buying an additional 12,237 shares in the last quarter. Walleye Capital LLC purchased a new position in VNET Group in the 3rd quarter valued at approximately $115,000. Finally, Asset Management One Co. Ltd. purchased a new position in VNET Group in the 4th quarter valued at approximately $152,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

VNET Group Price Performance

NASDAQ:VNET traded down $0.60 during trading hours on Friday, hitting $11.47. The stock had a trading volume of 9,816,312 shares, compared to its average volume of 9,465,831. The company has a 50 day simple moving average of $8.45 and a two-hundred day simple moving average of $5.18. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group, Inc. has a one year low of $1.42 and a one year high of $16.13. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -5.17, a P/E/G ratio of 1.01 and a beta of 0.07.

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Analyst Ratings Changes

A number of research firms recently weighed in on VNET. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. UBS Group lifted their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a research note on Friday, November 29th. Finally, The Goldman Sachs Group upgraded shares of VNET Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, VNET Group presently has a consensus rating of "Buy" and a consensus price target of $4.78.

VNET Group Profile

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.