319,310 Shares in VNET Group, Inc. (NASDAQ:VNET) Bought by Marshall Wace LLP

Marshall Wace LLP purchased a new position in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. PEAK6 LLC acquired a new stake in shares of VNET Group during the fourth quarter worth $474,000. Jump Financial LLC acquired a new stake in shares of VNET Group during the fourth quarter worth $1,694,000. Barclays PLC raised its position in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 4,939 shares in the last quarter. Quinn Opportunity Partners LLC purchased a new position in VNET Group in the fourth quarter worth $200,000. Finally, Dymon Asia Capital Singapore PTE. LTD. purchased a new position in VNET Group in the fourth quarter worth $594,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VNET has been the subject of several research analyst reports. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Citigroup increased their price objective on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, StockNews.com upgraded VNET Group from a "sell" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a hold 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 currently has a consensus rating of "Buy" and a consensus price target of $9.30.

VNET Group Trading Up 1.1 %

Shares of VNET stock opened at $5.44 on Tuesday. VNET Group, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $16.13. The stock has a market cap of $1.40 billion, a P/E ratio of -2.45, a P/E/G ratio of 1.01 and a beta of 0.15. The business has a fifty day simple moving average of $8.70 and a 200-day simple moving average of $6.43. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

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) earnings per share 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 analysts' expectations of $284.88 million. On average, analysts forecast that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

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.

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