Brevan Howard Capital Management LP Acquires 69,740 Shares of VNET Group, Inc. (NASDAQ:VNET)

Brevan Howard Capital Management LP raised its stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 586,791 shares of the information technology services provider's stock after buying an additional 69,740 shares during the period. Brevan Howard Capital Management LP owned about 0.23% of VNET Group worth $2,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its holdings 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 valued at $34,000 after acquiring an additional 4,939 shares during the last quarter. Catalina Capital Group LLC acquired a new position in VNET Group in the fourth quarter valued at $54,000. Hsbc Holdings PLC bought a new stake in VNET Group during the fourth quarter valued at $66,000. Tower Research Capital LLC TRC acquired a new stake in VNET Group during the 4th quarter worth about $80,000. Finally, Wedbush Securities Inc. acquired a new stake in VNET Group during the 4th quarter worth about $127,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Stock Down 0.7 %

Shares of NASDAQ VNET traded down $0.04 during midday trading on Friday, hitting $5.96. 3,797,420 shares of the stock traded hands, compared to its average volume of 4,324,835. VNET Group, Inc. has a one year low of $1.71 and a one year high of $16.13. The business has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $6.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $1.53 billion, a PE ratio of -2.68, a P/E/G ratio of 1.01 and a beta of 0.14.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. On average, equities analysts predict that VNET Group, Inc. will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VNET shares. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, Citigroup lifted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus 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.