Janus Henderson Group PLC Makes New $1.81 Million Investment in VNET Group, Inc. – Unsponsored ADR $VNET

Janus Henderson Group PLC purchased a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 215,229 shares of the information technology services provider’s stock, valued at approximately $1,809,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of VNET Group in the first quarter valued at about $25,000. Global Retirement Partners LLC purchased a new position in VNET Group during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its holdings in 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 valued at $29,000 after purchasing an additional 1,426 shares during the last quarter. Parallel Advisors LLC boosted its holdings in 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 valued at $46,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Allianz SE purchased a new stake in shares of VNET Group in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Performance

NASDAQ:VNET opened at $7.33 on Monday. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $6.17 and a fifty-two week high of $14.48. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $8.16 and a 200 day moving average price of $9.37. The stock has a market capitalization of $1.98 billion, a P/E ratio of -5.35 and a beta of 0.32.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, July 15th. Bank of America set a $16.30 price objective on VNET Group and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a $24.79 target price on shares of VNET Group in a research note on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and issued a $16.00 target price on shares of VNET Group in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on VNET Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

VNET Group Company 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.