Farallon Capital Management LLC Increases Stock Holdings in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Farallon Capital raised its stake by 83.3% in Q3 to 5,489,120 shares of VNET (about 2.04% of the company), valued at roughly $56.7 million.
• Institutional ownership is high at 72.83%, and VNET trades near $10.51 with a $2.83 billion market cap, a negative P/E of -35.03 and a debt-to-equity ratio of 2.88, indicating leveraged fundamentals.
• Analyst sentiment is mixed: the consensus is a Hold with a $12.60 target, while Weiss Ratings reiterated a "sell (d-)" and coverage shows one buy and one sell.

Farallon Capital Management LLC increased its stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 83.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,489,120 shares of the information technology services provider's stock after acquiring an additional 2,495,000 shares during the period. Farallon Capital Management LLC owned approximately 2.04% of VNET Group worth $56,703,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Orion Porfolio Solutions LLC raised its stake in shares of VNET Group by 6.1% during the third quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider's stock valued at $222,000 after purchasing an additional 1,237 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 1,426 shares during the period. Raymond James Financial Inc. grew its holdings in VNET Group by 14.5% during the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider's stock valued at $118,000 after purchasing an additional 1,446 shares in the last quarter. Main Management ETF Advisors LLC grew its holdings in VNET Group by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 168,548 shares of the information technology services provider's stock valued at $1,163,000 after purchasing an additional 2,736 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its stake in VNET Group by 9.3% during the 2nd quarter. Personal CFO Solutions LLC now owns 34,505 shares of the information technology services provider's stock worth $238,000 after buying an additional 2,933 shares during the period. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Stock Down 0.6%

VNET stock opened at $10.51 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. The firm has a 50 day simple moving average of $11.10 and a 200-day simple moving average of $9.89. The company has a market capitalization of $2.83 billion, a P/E ratio of -35.03, a PEG ratio of 0.82 and a beta of 0.01. VNET Group, Inc. - Unsponsored ADR has a twelve month low of $4.65 and a twelve month high of $14.48.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of VNET Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.60.

VNET Group 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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