Virtu Financial LLC Buys New Holdings in VNET Group, Inc. (NASDAQ:VNET)

Virtu Financial LLC purchased a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 127,281 shares of the information technology services provider's stock, valued at approximately $519,000.

Other large investors have also made changes to their positions in the company. Millennium Management LLC increased its position in VNET Group by 89.1% during the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider's stock worth $6,229,000 after purchasing an additional 1,400,683 shares during the last quarter. Anson Funds Management LP increased its holdings in shares of VNET Group by 84.9% during the 3rd quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider's stock worth $1,836,000 after buying an additional 206,580 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of VNET Group by 24.8% during the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider's stock valued at $1,506,000 after buying an additional 73,311 shares during the period. Geode Capital Management LLC lifted its holdings in VNET Group by 237.7% in the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock valued at $1,218,000 after acquiring an additional 210,124 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in VNET Group in the third quarter worth approximately $1,092,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

VNET Group Trading Down 3.3 %

NASDAQ VNET traded down $0.13 during trading on Monday, hitting $3.86. The stock had a trading volume of 1,481,622 shares, compared to its average volume of 1,610,533. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $993.56 million, a PE ratio of -1.80 and a beta of -0.19. The firm has a 50 day moving average price of $3.73 and a 200 day moving average price of $2.89. VNET Group, Inc. has a twelve month low of $1.39 and a twelve month high of $4.50.

Wall Street Analyst Weigh In

VNET has been the topic of a number of research analyst reports. HSBC upgraded VNET Group from a "hold" rating to a "buy" rating and set a $5.20 target price on the stock in a research report on Wednesday, October 9th. Citigroup started coverage on shares of VNET Group in a report on Wednesday, September 4th. They issued a "buy" rating and a $4.00 price objective on the stock. UBS Group increased their target price on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Hsbc Global Res upgraded shares of VNET Group to a "strong-buy" rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group upgraded shares of VNET Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $3.10 to $5.00 in a report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, VNET Group currently has an average rating of "Buy" and an average price target of $4.78.

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.