Royal Bank of Canada Has $13.99 Million Stock Holdings in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• The Royal Bank of Canada increased its holdings in VNET Group by over 2 million percent, acquiring a total of 1,705,398 shares valued at approximately $13.99 million.
• VNET Group reported a quarterly loss of ($0.01) EPS, missing analyst estimates and generating revenue of only $339.65 million, significantly below the expected $2.27 billion.
• Institutional investors hold 72.83% of VNET Group's stock, indicating strong institutional interest in the company despite recent challenges.

Royal Bank of Canada increased its position in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 2,304,491.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,705,398 shares of the information technology services provider's stock after buying an additional 1,705,324 shares during the period. Royal Bank of Canada owned 0.66% of VNET Group worth $13,985,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of VNET Group in the 1st quarter valued at about $36,000. Summit Securities Group LLC bought a new position in VNET Group in the 1st quarter valued at about $40,000. Barclays PLC lifted its position in VNET Group by 229.3% in the 4th 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in VNET Group in the 4th quarter valued at about $41,000. Finally, Liontrust Investment Partners LLP bought a new position in VNET Group in the 1st quarter valued at about $78,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Price Performance

VNET Group stock opened at $7.93 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. The stock has a market cap of $2.13 billion, a P/E ratio of -99.13, a P/E/G ratio of 5.79 and a beta of 0.16. The company's 50 day moving average price is $8.04 and its two-hundred day moving average price is $7.54. VNET Group, Inc. - Unsponsored ADR has a 52 week low of $2.67 and a 52 week high of $16.13.

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

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

Wall Street Analysts Forecast Growth

VNET has been the topic of several recent research reports. 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 raised their price target on shares of VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, VNET Group presently has an average rating of "Buy" and an average target price of $9.96.

About VNET Group

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.

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