VNET Group, Inc. - Unsponsored ADR $VNET Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers significantly increased its stake in VNET Group, raising its holdings by 297.3% to 85,463 shares, valued at approximately $701,000.
• Recently, multiple institutional investors have also taken positions in VNET Group, with notable acquisitions including Bank of America and JPMorgan Chase, demonstrating increased investor interest.
• VNET Group's stock currently holds a consensus rating of "Buy" from analysts, with a price target of $9.30, despite recent earnings that missed expectations.

Cetera Investment Advisers raised its stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 297.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,463 shares of the information technology services provider's stock after purchasing an additional 63,953 shares during the quarter. Cetera Investment Advisers' holdings in VNET Group were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in VNET. Barclays PLC increased 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 acquiring an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group during the fourth quarter worth $41,000. Hsbc Holdings PLC acquired a new position in shares of VNET Group during the fourth quarter worth $66,000. Tower Research Capital LLC TRC acquired a new position in shares of VNET Group during the fourth quarter worth $80,000. Finally, Bingham Private Wealth LLC acquired a new position in shares of VNET Group during the first quarter worth $86,000. Institutional investors and hedge funds own 72.83% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of VNET Group from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $9.30.

VNET Group Stock Performance

Shares of VNET stock traded up $0.07 on Monday, hitting $7.84. 1,470,897 shares of the stock traded hands, compared to its average volume of 7,862,990. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $2.11 billion, a PE ratio of -783.50, a PEG ratio of 4.23 and a beta of 0.18. VNET Group, Inc. - Unsponsored ADR has a 1-year low of $1.79 and a 1-year high of $16.13. The company's fifty day moving average is $7.31 and its 200 day moving average is $7.82.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $309.52 million for the quarter, compared to analyst estimates of $2.22 billion. VNET Group had a net margin of 1.66% and a return on equity of 2.11%. During the same period in the prior year, the company posted ($0.28) earnings per share. On average, equities research analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

VNET Group declared that its board has initiated a share buyback plan on Friday, June 27th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.