Diversify Advisory Services LLC Sells 280,613 Shares of VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Diversify Advisory Services cut its VNET Group stake by 95.1% in the third quarter, selling 280,613 shares and retaining 14,327 shares worth approximately $80,000.
• Institutional ownership remains significant at 72.83%, while several major funds—including Infini Capital Management and Janus Henderson—established or increased positions.
• VNET shares opened at $3.71, near their 12-month low, after the company missed quarterly EPS expectations. Analysts nonetheless maintain a “Moderate Buy” consensus with an average price target of $16.90.

Diversify Advisory Services LLC decreased its holdings in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 95.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,327 shares of the information technology services provider's stock after selling 280,613 shares during the quarter. Diversify Advisory Services LLC's holdings in VNET Group were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in VNET Group by 20.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider's stock valued at $22,012,000 after acquiring an additional 443,656 shares during the period. FACT Capital LP bought a new position in VNET Group in the 1st quarter valued at $4,012,000. Infini Capital Management Ltd bought a new position in VNET Group in the 2nd quarter valued at $38,883,000. Janus Henderson Group PLC bought a new position in VNET Group in the 1st quarter valued at $1,809,000. Finally, Regal Partners Ltd purchased a new stake in VNET Group in the first quarter worth $3,095,000. Institutional investors own 72.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a research note on Tuesday, July 7th. They set a "buy" rating and a $12.50 target price for the company. Weiss Ratings downgraded shares of VNET Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, September 1st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $14.00 price objective on shares of VNET Group in a report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, VNET Group currently has an average rating of "Moderate Buy" and an average price target of $16.90.

VNET Group Trading Down 1.6%

Shares of NASDAQ:VNET opened at $3.71 on Thursday. VNET Group, Inc. - Unsponsored ADR has a 12-month low of $3.52 and a 12-month high of $14.48. The business's fifty day simple moving average is $5.70 and its 200-day simple moving average is $8.43. The company has a market capitalization of $1.00 billion, a PE ratio of -2.61 and a beta of 0.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.35.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. The company had revenue of $409.00 million during the quarter, compared to the consensus estimate of $401.77 million. As a group, equities research analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.48 earnings per share for the current fiscal year.

About VNET Group

VNET Group, Inc NASDAQ: VNET, formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET's services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.

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