VNET Group, Inc. (NASDAQ:VNET) Shares Sold by MASO CAPITAL PARTNERS Ltd

MASO CAPITAL PARTNERS Ltd lowered its stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,728,771 shares of the information technology services provider's stock after selling 125,000 shares during the quarter. VNET Group comprises about 10.4% of MASO CAPITAL PARTNERS Ltd's holdings, making the stock its 4th largest position. MASO CAPITAL PARTNERS Ltd owned approximately 0.67% of VNET Group worth $8,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock worth $1,218,000 after buying an additional 210,124 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in VNET Group during the fourth quarter worth about $152,000. JPMorgan Chase & Co. lifted its position in VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock valued at $558,000 after purchasing an additional 136,783 shares during the period. Virtu Financial LLC purchased a new stake in VNET Group in the 3rd quarter valued at approximately $519,000. Finally, Los Angeles Capital Management LLC acquired a new position in VNET Group during the 4th quarter worth approximately $294,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

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VNET Group Price Performance

VNET traded down $0.13 during trading on Monday, reaching $8.12. 3,703,945 shares of the stock were exchanged, compared to its average volume of 3,502,105. 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 $2.09 billion, a price-to-earnings ratio of -3.63, a P/E/G ratio of 1.01 and a beta of 0.07. VNET Group, Inc. has a 1 year low of $1.42 and a 1 year high of $16.13. The business's 50 day moving average price is $10.00 and its two-hundred day moving average price is $6.08.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) 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 business had revenue of $307.75 million during the quarter, compared to analysts' expectations 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 Ratings Changes

VNET has been the subject of several recent analyst reports. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Citigroup raised their target price on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, VNET Group has an average rating of "Buy" and a consensus price target of $9.30.

VNET Group Company 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.