Janus Henderson Group PLC Acquires Shares of 215,229 VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Janus Henderson Group acquired 215,229 VNET Group shares worth approximately $1.81 million, while institutional investors and hedge funds collectively own 72.83% of the company.
• VNET reported a quarterly loss of $1.20 per share, significantly missing the $0.03 consensus estimate, although revenue of $390.32 million slightly exceeded expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and $17.40 average price target versus the stock’s recent $7.33 price; however, one analyst downgraded the shares to “sell.”

Janus Henderson Group PLC bought a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 215,229 shares of the information technology services provider's stock, valued at approximately $1,809,000. Janus Henderson Group PLC owned approximately 0.08% of VNET Group as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VNET. Triata Capital Ltd increased its stake in shares of VNET Group by 4.6% in the 4th quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider's stock valued at $105,740,000 after purchasing an additional 550,841 shares in the last quarter. Norges Bank purchased a new position in VNET Group during the fourth quarter worth approximately $65,650,000. Farallon Capital Management LLC grew its holdings in VNET Group by 14.5% in the fourth quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider's stock valued at $53,174,000 after purchasing an additional 796,266 shares during the period. UBS Group AG grew its holdings in VNET Group by 73.2% in the third quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider's stock valued at $44,250,000 after purchasing an additional 1,809,987 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in VNET Group by 674.8% in the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider's stock valued at $23,067,000 after purchasing an additional 2,911,604 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Price Performance

VNET Group stock opened at $7.33 on Monday. VNET Group, Inc. - Unsponsored ADR has a 52-week low of $6.17 and a 52-week high of $14.48. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -5.35 and a beta of 0.32. The company has a fifty day simple moving average of $8.16 and a 200-day simple moving average of $9.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99.

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

Analysts Set New Price Targets

VNET has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a research note on Tuesday, July 7th. They set a "buy" rating and a $12.50 target price for the company. Morgan Stanley reissued an "overweight" rating and issued a $16.00 price target on shares of VNET Group in a report 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. Bank of America set a $16.30 price objective on shares of VNET Group and gave the company a "buy" rating in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.40.

Insider Buying and Selling

In other VNET Group news, Director Sean Shao sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.71, for a total value of $102,600.00. Following the transaction, the director directly owned 983,820 shares of the company's stock, valued at $1,682,332.20. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.10% of the company's stock.

About VNET Group

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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