Jump Financial LLC Purchases Shares of 357,416 VNET Group, Inc. (NASDAQ:VNET)

Jump Financial LLC purchased a new position in shares of VNET Group, Inc. (NASDAQ:VNET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 357,416 shares of the information technology services provider’s stock, valued at approximately $1,694,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in VNET Group by 622.8% during the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock valued at $4,690,000 after purchasing an additional 852,519 shares in the last quarter. HCEP Management Ltd purchased a new stake in VNET Group during the 4th quarter valued at about $2,491,000. American Century Companies Inc. increased its holdings in shares of VNET Group by 20.4% in the fourth quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock valued at $2,251,000 after purchasing an additional 80,516 shares during the period. SG Americas Securities LLC lifted its holdings in shares of VNET Group by 534.6% during the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after purchasing an additional 343,140 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in VNET Group in the fourth quarter valued at approximately $1,811,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Performance

Shares of VNET stock opened at $5.02 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group, Inc. has a 12-month low of $1.43 and a 12-month high of $16.13. The business’s 50 day moving average is $9.50 and its two-hundred day moving average is $6.36. The company has a market capitalization of $1.29 billion, a P/E ratio of -2.26, a P/E/G ratio of 1.01 and a beta of 0.15.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Analysts expect that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on VNET. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup lifted their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, StockNews.com lowered VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, VNET Group has a consensus rating of “Buy” and an average price target of $9.30.

About VNET Group

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.