VNET Group, Inc. - Unsponsored ADR $VNET Shares Sold by UBS Group AG

Key Points

• UBS Group AG reduced its VNET Group stake by 22.3% in the fourth quarter, selling 954,665 shares and leaving it with 3,328,995 shares worth about $28.2 million.
• VNET reported breakeven EPS of $0.00 for the quarter, missing estimates, while revenue came in at $384.07 million, above analyst expectations.
• Analyst views are mixed: Jefferies and Bank of America kept buy ratings, Weiss Ratings maintained a sell rating, and the stock’s consensus rating is currently Hold with an average price target of $18.08.

UBS Group AG cut its holdings in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 22.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,328,995 shares of the information technology services provider's stock after selling 954,665 shares during the period. UBS Group AG owned about 1.24% of VNET Group worth $28,163,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VNET. EverSource Wealth Advisors LLC lifted its position in shares of VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 1,426 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of VNET Group during the second quarter worth about $55,000. Raymond James Financial Inc. bought a new position in shares of VNET Group during the second quarter worth about $69,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of VNET Group during the fourth quarter worth about $95,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of VNET Group during the third quarter worth about $100,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Price Performance

NASDAQ VNET opened at $8.90 on Friday. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $5.14 and a 12 month high of $14.48. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $2.41 billion, a PE ratio of -30.69 and a beta of 0.19. The company's 50 day simple moving average is $9.21 and its 200 day simple moving average is $9.71.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.04). The company had revenue of $384.07 million for the quarter, compared to analyst estimates of $368.64 million. VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.36%. As a group, equities research analysts forecast that VNET Group, Inc. - Unsponsored ADR will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VNET. Jefferies Financial Group reaffirmed a "buy" rating and set a $23.55 price target on shares of VNET Group in a research report on Monday, March 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of VNET Group in a report on Friday, March 27th. Bank of America reissued a "buy" rating on shares of VNET Group in a report on Monday, March 16th. Finally, Wall Street Zen raised shares of VNET Group from a "sell" rating to a "hold" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $18.08.

Insider Transactions at VNET Group

In other VNET Group news, Director David Lifeng Chen sold 83,544 shares of VNET Group stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total value of $126,151.44. Following the transaction, the director owned 334,164 shares in the company, valued at approximately $504,587.64. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.10% of the company's stock.

VNET Group Profile

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.