1,074,683 Shares in VNET Group, Inc. (NASDAQ:VNET) Purchased by Man Group plc

Man Group plc purchased a new position in shares of VNET Group, Inc. (NASDAQ:VNET) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,074,683 shares of the information technology services provider’s stock, valued at approximately $5,094,000.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its stake in VNET Group by 3.4% during the fourth quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider’s stock worth $26,441,000 after buying an additional 181,749 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in VNET Group by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,145,529 shares of the information technology services provider’s stock worth $10,170,000 after buying an additional 93,891 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in VNET Group during the fourth quarter worth about $7,183,000. Cubist Systematic Strategies LLC acquired a new stake in VNET Group during the fourth quarter worth about $1,444,000. Finally, Cetera Investment Advisers acquired a new stake in VNET Group during the fourth quarter worth about $102,000. 72.83% of the stock is owned by institutional investors.

VNET Group Stock Down 1.3%

Shares of NASDAQ VNET opened at $6.22 on Wednesday. The company has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $6.73. The firm has a market cap of $1.67 billion, a PE ratio of -2.80, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. VNET Group, Inc. has a 1 year low of $1.71 and a 1 year high of $16.13. 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 (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The firm had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. On average, research analysts forecast that VNET Group, Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VNET shares. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup increased their price objective on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.