Triasima Portfolio Management inc. Makes New Investment in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)

Triasima Portfolio Management inc. bought a new position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 35,825 shares of the information technology services provider’s stock, valued at approximately $294,000.

A number of other institutional investors have also bought and sold shares of the business. Barclays PLC increased its holdings in VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in VNET Group in the 4th quarter valued at approximately $41,000. Hsbc Holdings PLC acquired a new position in shares of VNET Group in the fourth quarter worth $66,000. Tower Research Capital LLC TRC acquired a new position in shares of VNET Group in the fourth quarter worth $80,000. Finally, Cetera Investment Advisers acquired a new position in shares of VNET Group in the fourth quarter worth $102,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Price Performance

Shares of VNET opened at $9.04 on Wednesday. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $1.71 and a 1-year high of $16.13. The stock has a market cap of $2.43 billion, a PE ratio of -904.00, a price-to-earnings-growth ratio of 1.49 and a beta of 0.14. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a fifty day moving average price of $6.32 and a 200 day moving average price of $7.43.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $309.52 million during the quarter, compared to analyst estimates of $2.22 billion. VNET Group had a net margin of 1.66% and a return on equity of 2.11%. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. As a group, sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

VNET Group declared that its Board of Directors has initiated a share repurchase program on Friday, June 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $9.30.

VNET Group Company 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.