53,269 Shares in VNET Group, Inc. - Unsponsored ADR $VNET Acquired by Prudential PLC

Key Points

• Prudential PLC has acquired a new stake in VNET Group, purchasing 53,269 shares valued at approximately $437,000 in the first quarter.
• Institutional investors currently own 72.83% of VNET Group's stock, highlighting significant interest in the company.
• VNET Group recently received an upgrade from a "sell" to a "hold" rating, with a current consensus rating of "Buy" and an average price target of $9.30.

Prudential PLC purchased a new stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,269 shares of the information technology services provider's stock, valued at approximately $437,000.

Other large investors have also made changes to their positions in the company. Barclays PLC lifted its stake in shares of VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group during the fourth quarter valued at $41,000. Hsbc Holdings PLC acquired a new position in shares of VNET Group during the fourth quarter valued at $66,000. Tower Research Capital LLC TRC acquired a new position in shares of VNET Group during the fourth quarter valued at $80,000. Finally, Bingham Private Wealth LLC acquired a new position in shares of VNET Group during the first quarter valued at $86,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Trading Up 1.8%

Shares of VNET Group stock traded up $0.14 during trading hours on Wednesday, hitting $7.98. The company's stock had a trading volume of 4,522,769 shares, compared to its average volume of 7,842,563. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $1.80 and a 12 month high of $16.13. The stock has a 50 day moving average of $7.38 and a 200 day moving average of $7.82. The company has a market capitalization of $2.15 billion, a PE ratio of -798.00, a price-to-earnings-growth ratio of 4.22 and a beta of 0.18. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $309.52 million during the quarter, compared to the consensus estimate of $2.22 billion. VNET Group had a return on equity of 2.11% and a net margin of 1.66%.During the same quarter last year, the company earned ($0.28) earnings per share. Analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded VNET Group from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $9.30.

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.