Carmignac Gestion Invests $1.41 Million in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

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Carmignac Gestion purchased a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 171,476 shares of the information technology services provider's stock, valued at approximately $1,406,000. Carmignac Gestion owned about 0.07% of VNET Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Triata Capital Ltd bought a new position in shares of VNET Group in the fourth quarter worth about $47,377,000. Millennium Management LLC grew its holdings in shares of VNET Group by 3.4% in the fourth quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider's stock worth $26,441,000 after purchasing an additional 181,749 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of VNET Group by 5.3% in the first quarter. Vanguard Group Inc. now owns 5,495,446 shares of the information technology services provider's stock worth $45,063,000 after purchasing an additional 278,496 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of VNET Group by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,145,529 shares of the information technology services provider's stock worth $10,170,000 after purchasing an additional 93,891 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in VNET Group in the fourth quarter worth approximately $7,183,000. 72.83% of the stock is owned by institutional investors.

VNET Group Stock Up 12.9%

NASDAQ:VNET traded up $0.95 during trading hours on Friday, reaching $8.29. The company's stock had a trading volume of 9,448,185 shares, compared to its average volume of 7,849,885. The company has a market capitalization of $2.23 billion, a P/E ratio of -829.00, a price-to-earnings-growth ratio of 4.35 and a beta of 0.18. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $1.93 and a 12 month high of $16.13. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $7.45 and a two-hundred day moving average price of $7.83.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its 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 net margin of 1.66% and a return on equity of 2.11%. The firm had revenue of $339.65 million during the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. Equities analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.

VNET Group announced that its Board of Directors has approved a stock repurchase plan on Friday, June 27th that allows the company to buyback $0.00 in shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen raised VNET Group from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. 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 note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average 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.