Marshall Wace LLP Makes New Investment in VNET Group, Inc. (NASDAQ:VNET)

Marshall Wace LLP bought a new stake 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 institutional investor bought 319,310 shares of the information technology services provider's stock, valued at approximately $1,514,000. Marshall Wace LLP owned 0.12% of VNET Group as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of VNET Group by 622.8% during the fourth quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider's stock worth $4,690,000 after buying an additional 852,519 shares during the last quarter. HCEP Management Ltd acquired a new position in VNET Group during the 4th quarter valued at $2,491,000. American Century Companies Inc. raised its stake in VNET Group by 20.4% during the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider's stock valued at $2,251,000 after purchasing an additional 80,516 shares during the last quarter. SG Americas Securities LLC boosted its holdings in VNET Group by 534.6% in the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock valued at $1,931,000 after purchasing an additional 343,140 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of VNET Group during the 4th quarter worth about $1,811,000. Institutional investors own 72.83% of the company's stock.

Wall Street Analysts Forecast Growth

VNET has been the subject of several research reports. StockNews.com upgraded shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Citigroup lifted their price objective on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $9.30.

VNET Group Price Performance

NASDAQ VNET traded up $0.81 during trading on Friday, reaching $7.08. 8,622,162 shares of the company traded hands, compared to its average volume of 4,215,242. VNET Group, Inc. has a 1-year low of $1.71 and a 1-year high of $16.13. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -3.19, a P/E/G ratio of 1.01 and a beta of 0.15. The stock's 50 day moving average price is $8.08 and its two-hundred day moving average price is $6.51. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings results 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 net margin of 28.54% and a negative return on equity of 5.68%. The company had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. As a group, analysts anticipate that VNET Group, Inc. will post -0.06 EPS for the current year.

About VNET Group

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.