Inspire Investing LLC Sells 141,282 Shares of VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Inspire Investing LLC has significantly reduced its holdings in VNET Group by 61.8%, now owning 87,264 shares valued at approximately $716,000.
• Several institutional investors, including BNP Paribas Financial Markets and Bank of America Corp DE, have dramatically increased their stakes in VNET Group, indicating a trend of growing interest among hedge funds.
• Analysts have mixed sentiments about VNET Group, with some upgrading their ratings while others have reduced their projections, reflecting uncertainty about the company's future performance.

Inspire Investing LLC cut its position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 61.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,264 shares of the information technology services provider's stock after selling 141,282 shares during the quarter. Inspire Investing LLC's holdings in VNET Group were worth $716,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Triata Capital Ltd acquired a new stake in shares of VNET Group during the fourth quarter worth $47,377,000. Millennium Management LLC boosted its position in shares of VNET Group by 3.4% during the 4th quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider's stock worth $26,441,000 after purchasing an additional 181,749 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of VNET Group by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 5,495,446 shares of the information technology services provider's stock worth $45,063,000 after purchasing an additional 278,496 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of VNET Group during the 1st quarter worth about $27,463,000. Finally, Taikang Asset Management Hong Kong Co Ltd bought a new position in shares of VNET Group during the 1st quarter worth about $27,210,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VNET shares. Wall Street Zen cut shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. Bank of America increased their price objective on shares of VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $9.96.

VNET Group Stock Up 2.0%

VNET Group stock traded up $0.20 during midday trading on Thursday, hitting $10.05. 3,791,552 shares of the stock were exchanged, compared to its average volume of 7,767,809. VNET Group, Inc. - Unsponsored ADR has a 52-week low of $2.98 and a 52-week high of $16.13. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -125.29, a price-to-earnings-growth ratio of 6.11 and a beta of 0.16. The business's 50-day moving average price is $8.24 and its 200-day moving average price is $7.43. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The firm had revenue of $339.65 million for the quarter, compared to analysts' expectations of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. On average, research analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.

VNET Group declared that its board has authorized a stock repurchase program on Friday, June 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

VNET Group Company Profile

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.