FACT Capital LP Invests $4.01 Million in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• FACT Capital LP initiated a $4.01 million position in VNET Group, purchasing 478,246 shares, equivalent to 0.18% of the company and 2.7% of the fund’s portfolio.
• Institutional ownership remains high at 72.83%, with Senvest Management increasing its stake by 211.7% and several other firms adding or initiating positions. Director Sean Shao, however, sold 60,000 shares.
• VNET’s stock opened at $7.17, near its 52-week low, after the company reported a significant quarterly EPS miss of $1.20 versus the expected $0.03 loss. Analyst sentiment is mixed but averages a “Moderate Buy,” with a $17.40 target price.

FACT Capital LP purchased a new stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 478,246 shares of the information technology services provider's stock, valued at approximately $4,012,000. VNET Group makes up 2.7% of FACT Capital LP's holdings, making the stock its 14th largest position. FACT Capital LP owned 0.18% of VNET Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of VNET Group by 20.4% in 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 buying an additional 443,656 shares in the last quarter. Weiss Asset Management LP bought a new position in VNET Group in the first quarter valued at approximately $513,000. Senvest Management LLC increased its stake in VNET Group by 211.7% in the first quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider's stock valued at $23,321,000 after acquiring an additional 1,887,883 shares during the last quarter. Sei Investments Co. raised its position in VNET Group by 3.0% during the first quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider's stock valued at $316,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Lido Advisors LLC acquired a new position in VNET Group during the first quarter valued at approximately $126,000. 72.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at VNET Group

In other news, Director Sean Shao sold 60,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the sale, the director owned 983,820 shares of the company's stock, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VNET. Zacks Research raised shares of VNET Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 27th. Jefferies Financial Group restated a "buy" rating and set a $24.79 price objective on shares of VNET Group in a research report on Tuesday, May 26th. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Morgan Stanley reissued an "overweight" rating and set a $16.00 price target on shares of VNET Group in a research note on Wednesday, May 27th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of VNET Group in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, VNET Group currently has an average rating of "Moderate Buy" and an average target price of $17.40.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $7.17 on Tuesday. The firm has a market cap of $1.94 billion, a PE ratio of -5.23 and a beta of 0.28. The firm's fifty day moving average is $8.70 and its 200-day moving average is $9.61. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. VNET Group, Inc. - Unsponsored ADR has a 52 week low of $7.06 and a 52 week high of $14.48.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($1.17). The company had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. Sell-side analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.24 earnings per share for the current year.

VNET Group Company Profile

VNET Group, Inc NASDAQ: VNET is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company's product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.

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