Pacer Advisors Inc. Takes Position in VNET Group, Inc. (NASDAQ:VNET)

Pacer Advisors Inc. bought a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 704,047 shares of the information technology services provider's stock, valued at approximately $2,021,000. Pacer Advisors Inc. owned 0.47% of VNET Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in VNET Group by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,704,264 shares of the information technology services provider's stock valued at $14,724,000 after acquiring an additional 43,347 shares during the period. Creative Planning increased its position in shares of VNET Group by 10.5% in the third quarter. Creative Planning now owns 353,933 shares of the information technology services provider's stock valued at $1,108,000 after buying an additional 33,661 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of VNET Group in the third quarter valued at $33,000. Invesco Ltd. increased its position in shares of VNET Group by 2.6% in the third quarter. Invesco Ltd. now owns 133,968 shares of the information technology services provider's stock valued at $419,000 after buying an additional 3,358 shares in the last quarter. Finally, Maven Securities LTD increased its position in shares of VNET Group by 11.7% in the third quarter. Maven Securities LTD now owns 127,973 shares of the information technology services provider's stock valued at $401,000 after buying an additional 13,447 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VNET shares. StockNews.com upgraded VNET Group from a "sell" rating to a "hold" rating in a research report on Thursday. Bank of America upgraded VNET Group from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th.

VNET Group Price Performance

VNET Group stock traded down $0.15 during midday trading on Friday, reaching $1.55. 1,723,507 shares of the company were exchanged, compared to its average volume of 2,287,293. The company has a market capitalization of $230.10 million, a price-to-earnings ratio of -0.63 and a beta of -0.29. The firm's 50-day simple moving average is $1.66 and its 200-day simple moving average is $2.49. VNET Group, Inc. has a 1 year low of $1.39 and a 1 year high of $4.19. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.71 and a current ratio of 0.86.

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.