VNET Group, Inc. - Unsponsored ADR $VNET Shares Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC significantly increased its stake in VNET Group, Inc. by 230.9%, acquiring an additional 825,376 shares to own a total of 1,182,792 shares valued at approximately $9.7 million.
• Bank of America revised its price target for VNET Group from $11.80 to $12.60, while other analysts have mixed ratings with a consensus rating of "Buy" and an average price target of $9.96.
• VNET Group reported a revenue of $339.65 million but missed its earnings estimates, showing a net loss instead, and has set a share repurchase program indicating the board believes the stock is undervalued.

Jump Financial LLC raised its position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 230.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,182,792 shares of the information technology services provider's stock after buying an additional 825,376 shares during the quarter. Jump Financial LLC owned about 0.46% of VNET Group worth $9,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in VNET Group during the first quarter valued at approximately $36,000. Summit Securities Group LLC acquired a new stake in VNET Group during the first quarter valued at approximately $40,000. Barclays PLC raised its stake in 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 buying an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in VNET Group during the fourth quarter valued at approximately $41,000. Finally, Liontrust Investment Partners LLP acquired a new stake in VNET Group during the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 72.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VNET shares. Bank of America increased their price target on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, VNET Group currently has a consensus rating of "Buy" and an average price target of $9.96.

VNET Group Stock Performance

Shares of VNET stock opened at $8.29 on Friday. VNET Group, Inc. - Unsponsored ADR has a 12-month low of $1.93 and a 12-month high of $16.13. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -103.63, a price-to-earnings-growth ratio of 4.52 and a beta of 0.18. The business has a 50 day simple moving average of $7.51 and a 200 day simple moving average of $7.83. 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 issued 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 return on equity of 0.98% and a net margin of 0.74%.The business had revenue of $339.65 million during the quarter, compared to the consensus estimate of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current year.

VNET Group declared that its Board of Directors has initiated a share repurchase program 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 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.

Want to see what other hedge funds are holding VNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.