VNET Group, Inc. - Unsponsored ADR $VNET Position Increased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its VNET Group stake by 16.6% in the first quarter, acquiring 209,694 additional shares and bringing its holdings to 1.47 million shares valued at approximately $12.33 million.
• Institutional ownership remains high at 72.83%, with JPMorgan Chase, Quantbot Technologies, and EverSource Wealth Advisors also increasing their positions; Qube Research & Technologies initiated a new stake.
• Analyst sentiment is mixed but averages a “Moderate Buy” rating with a $17.40 price target. VNET recently reported a sharp quarterly EPS miss, while the stock traded at $7.33 and has a 12-month range of $6.17 to $14.48.

Dimensional Fund Advisors LP increased its stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 16.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,470,654 shares of the information technology services provider's stock after acquiring an additional 209,694 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.54% of VNET Group worth $12,330,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in VNET. Geode Capital Management LLC lifted its position in shares of VNET Group by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider's stock valued at $1,670,000 after acquiring an additional 7,489 shares in the last quarter. JPMorgan Chase & Co. grew its position in VNET Group by 1,201.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider's stock worth $3,529,000 after purchasing an additional 472,115 shares in the last quarter. Quantbot Technologies LP raised its stake in VNET Group by 333.0% during the 2nd quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider's stock valued at $130,000 after purchasing an additional 14,462 shares during the period. EverSource Wealth Advisors LLC raised its stake in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 1,426 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of VNET Group in the second quarter valued at $3,568,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VNET. Weiss Ratings reiterated a "sell (d+)" rating on shares of VNET Group in a report on Wednesday, July 15th. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Morgan Stanley restated an "overweight" rating and set a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Bank of America set a $16.30 target price on VNET Group and gave the company a "buy" rating in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded VNET Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, VNET Group currently has an average rating of "Moderate Buy" and an average price target 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 dated Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the transaction, the director directly owned 983,820 shares in the company, valued at $1,682,332.20. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is owned by insiders.

VNET Group Stock Performance

VNET stock opened at $7.33 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -5.35 and a beta of 0.32. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $6.17 and a 12 month high of $14.48. The firm has a 50 day moving average of $8.16 and a two-hundred day moving average of $9.38.

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

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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