Man Group plc Acquires Shares of 1,074,683 VNET Group, Inc. (NASDAQ:VNET)

Man Group plc acquired a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,074,683 shares of the information technology services provider's stock, valued at approximately $5,094,000. Man Group plc owned 0.42% of VNET Group at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the 4th quarter worth $152,000. Hsbc Holdings PLC bought a new position in shares of VNET Group during the 4th quarter worth $66,000. JPMorgan Chase & Co. grew its stake in shares of VNET Group by 136,783.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock worth $558,000 after acquiring an additional 136,783 shares during the period. Norges Bank bought a new position in shares of VNET Group during the 4th quarter worth $1,708,000. Finally, Barclays PLC grew its stake in shares of VNET Group by 229.3% during the 4th 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 during the period. Hedge funds and other institutional investors own 72.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VNET shares. Citigroup increased their price target on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, VNET Group has an average rating of "Buy" and a consensus price target of $9.30.

VNET Group Price Performance

Shares of NASDAQ VNET traded down $0.06 during trading hours on Friday, reaching $5.99. 2,100,586 shares of the stock traded hands, compared to its average volume of 4,515,932. The company has a market capitalization of $1.61 billion, a P/E ratio of -2.70, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. 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, Inc. has a 52-week low of $1.71 and a 52-week high of $16.13. The company's 50-day simple moving average is $6.55 and its two-hundred day simple moving average is $6.76.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $307.75 million for the quarter, compared to analysts' expectations of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Equities research analysts forecast that VNET Group, Inc. will post -0.06 EPS for the current 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.