319,310 Shares in VNET Group, Inc. (NASDAQ:VNET) Purchased by Marshall Wace LLP

Marshall Wace LLP acquired a new position in shares of VNET Group, Inc. (NASDAQ:VNET) in the fourth quarter, HoldingsChannel reports. The firm acquired 319,310 shares of the information technology services provider’s stock, valued at approximately $1,514,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 4,939 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in VNET Group in the 4th quarter valued at about $54,000. Wedbush Securities Inc. acquired a new position in shares of VNET Group during the 4th quarter valued at about $127,000. Asset Management One Co. Ltd. purchased a new position in shares of VNET Group during the 4th quarter worth about $152,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of VNET Group in the fourth quarter worth approximately $200,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

VNET has been the subject of several research analyst reports. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup upped their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $9.30.

VNET Group Stock Performance

Shares of VNET stock opened at $5.44 on Tuesday. VNET Group, Inc. has a one year low of $1.58 and a one year high of $16.13. The company has a 50 day moving average price of $8.70 and a 200 day moving average price of $6.43. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

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

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.