QRG Capital Management Inc. Invests $74,000 in VNET Group, Inc. – Unsponsored ADR $VNET

QRG Capital Management Inc. bought a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the 2nd quarter, HoldingsChannel reports. The fund bought 10,669 shares of the information technology services provider’s stock, valued at approximately $74,000.

Several other large investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of VNET Group by 16.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after purchasing an additional 2,100 shares in the last quarter. Quantbot Technologies LP acquired a new stake in VNET Group in the first quarter valued at about $36,000. Summit Securities Group LLC acquired a new stake in VNET Group in the first quarter valued at about $40,000. Farther Finance Advisors LLC acquired a new stake in VNET Group in the second quarter valued at about $34,000. Finally, Invesco Ltd. boosted its stake in VNET Group by 7.1% in the first quarter. Invesco Ltd. now owns 119,104 shares of the information technology services provider’s stock valued at $977,000 after buying an additional 7,881 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Price Performance

VNET Group stock opened at $8.47 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $2.28 billion, a PE ratio of -105.81, a P/E/G ratio of 4.91 and a beta of 0.20. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $3.17 and a 12 month high of $16.13. The stock has a 50-day moving average price of $8.88 and a two-hundred day moving average price of $7.36.

VNET Group (NASDAQ:VNET) last posted its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $339.65 million during the quarter, compared to the consensus estimate of $2.27 billion. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. VNET Group has set its FY 2025 guidance at EPS. Analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

VNET Group declared that its board has approved a stock repurchase plan on Friday, June 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the information technology services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

VNET has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of VNET Group in a research note on Wednesday, October 8th. Bank of America raised their price objective on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a research note on Friday, August 22nd. Finally, Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.15.

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.