Vanguard Group Inc. Has $45.06 Million Stake in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Vanguard Group Inc. increased its stake in VNET Group by 5.3%, acquiring an additional 278,496 shares, bringing its total ownership to approximately 5.5 million shares valued at $45.06 million.
• VNET Group reported a net loss of $0.01 per share for the last quarter, missing analysts' expectations, with revenue significantly lower than forecasts at $339.65 million.
• The company’s stock has experienced a recent decline of 5.4%, with a consensus rating of "Buy" from analysts and a target price set at $9.96.

Vanguard Group Inc. grew its holdings in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,495,446 shares of the information technology services provider's stock after acquiring an additional 278,496 shares during the quarter. Vanguard Group Inc. owned 2.13% of VNET Group worth $45,063,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of VNET Group in the fourth quarter worth about $41,000. Bingham Private Wealth LLC bought a new position in shares of VNET Group during the first quarter worth about $86,000. Hsbc Holdings PLC bought a new position in shares of VNET Group during the fourth quarter worth about $66,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of VNET Group during the fourth quarter worth about $80,000. 72.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

VNET Group Stock Up 9.4%

VNET stock traded up $0.73 during mid-day trading on Thursday, reaching $8.53. The company had a trading volume of 8,523,958 shares, compared to its average volume of 4,914,640. 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 stock has a 50 day simple moving average of $7.71 and a two-hundred day simple moving average of $7.80. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -106.63, a PEG ratio of 5.42 and a beta of 0.18. VNET Group, Inc. - Unsponsored ADR has a 52 week low of $2.25 and a 52 week high of $16.13.

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

VNET Group announced that its board has initiated a share buyback plan on Friday, June 27th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's leadership 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.