Jump Financial LLC Grows Position in VNET Group, Inc. - Unsponsored ADR $VNET

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 increased its holdings in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 230.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,182,792 shares of the information technology services provider's stock after acquiring an additional 825,376 shares during the quarter. Jump Financial LLC owned about 0.46% of VNET Group worth $9,699,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in VNET Group during the first quarter worth about $36,000. Summit Securities Group LLC acquired a new stake in VNET Group during the first quarter worth about $40,000. Barclays PLC grew 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 worth $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 worth about $41,000. Finally, Liontrust Investment Partners LLP acquired a new stake in VNET Group during the first quarter worth about $78,000. 72.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research note 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 note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, VNET Group currently has a consensus rating of "Buy" and an average target price of $9.96.

VNET Group Trading Up 2.6%

VNET Group stock traded up $0.23 during mid-day trading on Friday, hitting $8.76. 9,349,154 shares of the stock were exchanged, compared to its average volume of 7,794,516. The firm's fifty day simple moving average is $7.71 and its two-hundred day simple moving average is $7.80. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -109.03, a PEG ratio of 5.42 and a beta of 0.18. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $2.25 and a 12 month 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 for the quarter, missing the consensus estimate of $0.02 by ($0.03). VNET Group had a net margin of 0.74% and a return on equity of 0.98%. The company 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. Analysts forecast that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current year.

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

VNET Group 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.