Nuveen LLC Takes Position in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Nuveen LLC has acquired a new position in VNET Group, Inc., investing approximately $320,000 to purchase 39,000 shares of the company's stock.
• Barclays PLC significantly increased its stake in VNET Group by 229.3% during the last quarter, indicating growing institutional interest.
• VNET Group's stock was recently rated with a consensus average of "Buy" and a target price of $9.96, despite a recent downgrade to a "sell" by Wall Street Zen.

Nuveen LLC bought a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 39,000 shares of the information technology services provider's stock, valued at approximately $320,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after buying an additional 4,939 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in VNET Group during the fourth quarter worth $80,000. Hsbc Holdings PLC purchased a new stake in VNET Group in the fourth quarter valued at $66,000. BNP Paribas Financial Markets raised its position in VNET Group by 1,290.8% in the fourth quarter. BNP Paribas Financial Markets now owns 101,847 shares of the information technology services provider's stock valued at $483,000 after purchasing an additional 94,524 shares during the period. Finally, Bank of America Corp DE raised its position in VNET Group by 610.2% in the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider's stock valued at $5,682,000 after purchasing an additional 1,029,963 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. Bank of America lifted their target price on VNET Group from $11.80 to $12.60 and gave the company 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 company's stock. According to MarketBeat, VNET Group has a consensus rating of "Buy" and an average price target of $9.96.

VNET Group Trading Down 2.8%

Shares of VNET stock traded down $0.22 on Monday, hitting $7.68. The stock had a trading volume of 3,880,716 shares, compared to its average volume of 5,639,322. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $2.07 billion, a P/E ratio of -96.00, a P/E/G ratio of 5.49 and a beta of 0.16. VNET Group, Inc. - Unsponsored ADR has a 1 year low of $2.67 and a 1 year high of $16.13. The company's 50 day moving average price is $7.99 and its 200-day moving average price is $7.53.

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

VNET Group declared that its board has approved a stock buyback program on Friday, June 27th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is 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.