Canada Pension Plan Investment Board Takes Position in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• The Canada Pension Plan Investment Board purchased 3,349,100 shares of VNET Group, Inc. worth approximately $27.5 million, now holding about 1.30% of the company.
• VNET Group reported a loss of ($0.01) earnings per share for the latest quarter, falling short of the consensus estimate by $0.03.
• Recent analyst ratings show a mix of opinions, with Wall Street Zen downgrading the stock to "sell," while Bank of America raised its price target and maintained a "buy" rating.

Canada Pension Plan Investment Board purchased a new stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,349,100 shares of the information technology services provider's stock, valued at approximately $27,463,000. Canada Pension Plan Investment Board owned approximately 1.30% of VNET Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of VNET. Triata Capital Ltd purchased a new position in shares of VNET Group during the fourth quarter valued at approximately $47,377,000. Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of VNET Group during the first quarter valued at approximately $27,210,000. D. E. Shaw & Co. Inc. purchased a new position in shares of VNET Group during the fourth quarter valued at approximately $7,183,000. Candriam S.C.A. purchased a new position in shares of VNET Group during the first quarter valued at approximately $10,504,000. Finally, Man Group plc purchased a new position in shares of VNET Group during the fourth quarter valued at approximately $5,094,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

VNET Group Price Performance

NASDAQ VNET traded down $0.06 on Wednesday, reaching $8.00. The company's stock had a trading volume of 2,878,720 shares, compared to its average volume of 5,129,053. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40. The firm has a market cap of $2.15 billion, a PE ratio of -100.00, a price-to-earnings-growth ratio of 6.02 and a beta of 0.16. VNET Group, Inc. - Unsponsored ADR has a 52 week low of $2.66 and a 52 week high of $16.13. The business has a 50-day moving average price of $7.92 and a 200 day moving average price of $7.72.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $339.65 million for the quarter, compared to the consensus estimate of $2.27 billion. VNET Group had a return on equity of 0.98% and a net margin of 0.74%. VNET Group has set its FY 2025 guidance at EPS. Sell-side analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current year.

VNET Group announced that its Board of Directors has authorized a stock buyback program on Friday, June 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 23rd. Bank of America upped their price target on shares of VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $9.96.

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.