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 stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 621,058 shares of the information technology services provider's stock, valued at approximately $5,093,000. Amundi owned 0.24% of VNET Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted 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 last quarter. BNP Paribas Financial Markets raised its holdings in VNET Group by 1,290.8% in the 4th quarter. BNP Paribas Financial Markets now owns 101,847 shares of the information technology services provider's stock worth $483,000 after purchasing an additional 94,524 shares during the period. Bank of America Corp DE lifted its position in VNET Group by 610.2% during the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider's stock valued at $5,682,000 after purchasing an additional 1,029,963 shares in the last quarter. Cetera Investment Advisers bought a new stake in VNET Group during the fourth quarter valued at about $102,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in VNET Group in the fourth quarter worth about $7,183,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Stock Performance

VNET remained flat at $9.59 during trading on Tuesday. 6,463,713 shares of the company's stock were exchanged, compared to its average volume of 6,690,232. The stock has a market capitalization of $2.58 billion, a P/E ratio of -119.88, a P/E/G ratio of 6.11 and a beta of 0.16. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40. VNET Group, Inc. - Unsponsored ADR has a twelve month low of $2.74 and a twelve month high of $16.13. The business's 50-day simple moving average is $8.18 and its two-hundred day simple moving average is $7.41.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $339.65 million during the quarter, compared to analysts' expectations 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. As a group, sell-side analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

VNET Group declared that its Board of Directors has authorized a share buyback plan on Friday, June 27th that permits the company to buyback $0.00 in shares. This buyback authorization permits the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

VNET has been the topic of a number of analyst reports. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. Bank of America lifted their price target on shares of VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target 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.