Amundi Makes New $5.09 Million Investment in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Amundi has made a new investment of approximately $5.09 million in VNET Group, acquiring 621,058 shares during the first quarter, representing about 0.24% ownership of the company.
• Other institutions, such as Barclays PLC and Bank of America Corp, have also significantly increased their holdings in VNET Group, with Barclays raising its position by 229.3% and Bank of America by 610.2%.
• VNET Group's stock is currently trading at $7.93, with a reported debt-to-equity ratio of 2.40 and a recent quarterly earnings report showing a loss of ($0.01) per share, missing expectations.

Amundi bought a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 621,058 shares of the information technology services provider's stock, valued at approximately $5,093,000. Amundi owned approximately 0.24% 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. Barclays PLC raised its position in shares of 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 buying an additional 4,939 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of VNET Group by 1,290.8% in the fourth quarter. BNP Paribas Financial Markets now owns 101,847 shares of the information technology services provider's stock worth $483,000 after buying an additional 94,524 shares in the last quarter. Bank of America Corp DE raised its position in shares of VNET Group by 610.2% in the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider's stock worth $5,682,000 after buying an additional 1,029,963 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of VNET Group in the fourth quarter worth $102,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of VNET Group in the fourth quarter worth $7,183,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

VNET Group Trading Down 4.8%

Shares of VNET opened at $7.93 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.97 and a current ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a fifty-two week low of $2.67 and a fifty-two week high of $16.13. The firm has a 50 day moving average price of $8.04 and a 200-day moving average price of $7.54. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -99.13, a PEG ratio of 5.79 and a beta of 0.16.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results 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). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The business had revenue of $339.65 million during the quarter, compared to the consensus estimate of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current year.

VNET Group announced that its board has authorized a share repurchase plan on Friday, June 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.

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