FACT Capital LP Invests $4.01 Million in VNET Group, Inc. – Unsponsored ADR $VNET

FACT Capital LP acquired a new stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 478,246 shares of the information technology services provider’s stock, valued at approximately $4,012,000. VNET Group comprises about 2.7% of FACT Capital LP’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds have also bought and sold shares of the company. Leonteq Securities AG acquired a new position in VNET Group in the first quarter valued at $25,000. Global Retirement Partners LLC acquired a new stake in VNET Group during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC raised its position in shares of VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 1,426 shares in the last quarter. Parallel Advisors LLC raised its position in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Allianz SE acquired a new position in shares of VNET Group in the 4th quarter valued at about $50,000. Institutional investors own 72.83% of the company’s stock.

Insider Activity at VNET Group

In other news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the sale, the director owned 983,820 shares in the company, valued at $1,682,332.20. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

VNET Group Stock Performance

Shares of VNET opened at $7.17 on Tuesday. VNET Group, Inc. – Unsponsored ADR has a one year low of $7.06 and a one year high of $14.48. The company has a market cap of $1.94 billion, a PE ratio of -5.23 and a beta of 0.28. The stock has a 50-day moving average of $8.70 and a 200-day moving average of $9.61. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). The firm had revenue of $390.32 million for the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%. On average, equities research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $16.00 target price on shares of VNET Group in a research report on Wednesday, May 27th. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Jefferies Financial Group reissued a “buy” rating and issued a $24.79 price target on shares of VNET Group in a research note on Tuesday, May 26th. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of VNET Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective for the company. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

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.