Infini Capital Management Ltd Takes $38.88 Million Position in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Infini Capital Management acquired 4.84 million VNET Group shares worth approximately $38.9 million, representing a 1.79% stake and its entire reported portfolio.
• Institutional ownership remains significant at 72.83%, with Norges Bank, Temasek, BNP Paribas, JPMorgan, and Jefferies among other investors increasing their positions.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $16.90, but VNET recently missed quarterly EPS estimates, reporting a $0.06 loss per share despite revenue above expectations.

Infini Capital Management Ltd acquired a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,836,149 shares of the information technology services provider's stock, valued at approximately $38,883,000. VNET Group accounts for about 100.0% of Infini Capital Management Ltd's holdings, making the stock its largest holding. Infini Capital Management Ltd owned about 1.79% of VNET Group at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VNET. Norges Bank bought a new stake in VNET Group in the 4th quarter valued at approximately $65,650,000. Temasek Holdings Private Ltd grew its stake in shares of VNET Group by 988.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider's stock worth $27,522,000 after acquiring an additional 2,954,350 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of VNET Group by 674.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider's stock worth $23,067,000 after acquiring an additional 2,911,604 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of VNET Group by 1,750.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,502,622 shares of the information technology services provider's stock valued at $21,172,000 after purchasing an additional 2,367,410 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in shares of VNET Group by 1,419.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,979,000 shares of the information technology services provider's stock valued at $16,742,000 after purchasing an additional 2,129,000 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VNET. Deutsche Bank Aktiengesellschaft initiated coverage on shares of VNET Group in a research note on Tuesday, July 7th. They set a "buy" rating and a $12.50 price objective for the company. Jefferies Financial Group reiterated a "buy" rating and set a $24.79 target price on shares of VNET Group in a report on Tuesday, May 26th. Zacks Research upgraded VNET Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 27th. Bank of America set a $16.30 price target on VNET Group and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $14.00 price objective on shares of VNET Group in a research note on Wednesday, August 19th. Four 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's stock. According to MarketBeat.com, VNET Group currently has a consensus rating of "Moderate Buy" and an average target price of $16.90.

VNET Group Stock Performance

Shares of NASDAQ:VNET opened at $6.37 on Tuesday. VNET Group, Inc. - Unsponsored ADR has a 52-week low of $5.91 and a 52-week high of $14.48. The company has a market capitalization of $1.72 billion, a P/E ratio of -4.49 and a beta of 0.27. The company has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $8.67. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). The business had revenue of $409.00 million for the quarter, compared to the consensus estimate of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. Sell-side analysts forecast that VNET Group, Inc. - Unsponsored ADR will post -0.27 earnings per share for the current year.

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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