Dimensional Fund Advisors LP Has $12.33 Million Position in VNET Group, Inc. – Unsponsored ADR $VNET

Dimensional Fund Advisors LP boosted its stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 16.6% in the first quarter, Holdings Channel reports. The firm owned 1,470,654 shares of the information technology services provider’s stock after acquiring an additional 209,694 shares during the period. Dimensional Fund Advisors LP’s holdings in VNET Group were worth $12,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VNET. Parallel Advisors LLC raised its position in shares of VNET Group by 26.8% in the first 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 period. Dorsey Wright & Associates lifted its stake in shares of VNET Group by 41.8% in the first quarter. Dorsey Wright & Associates now owns 315,553 shares of the information technology services provider’s stock worth $2,647,000 after buying an additional 93,071 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of VNET Group by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 118,897 shares of the information technology services provider’s stock worth $998,000 after buying an additional 4,762 shares during the period. Diversify Wealth Management LLC boosted its holdings in shares of VNET Group by 37.9% during the 1st quarter. Diversify Wealth Management LLC now owns 268,672 shares of the information technology services provider’s stock worth $2,230,000 after buying an additional 73,773 shares during the period. Finally, Candriam S.C.A. grew its stake in VNET Group by 52.7% in the 1st quarter. Candriam S.C.A. now owns 271,875 shares of the information technology services provider’s stock valued at $2,281,000 after buying an additional 93,875 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Trading Up 4.6%

VNET Group stock opened at $7.33 on Friday. The business has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $9.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $6.17 and a 12 month high of $14.48. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -5.35 and a beta of 0.32.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on VNET. Bank of America set a $16.30 target price on shares of VNET Group and gave the stock a “buy” rating in a report on Tuesday, May 26th. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price objective on the stock. Morgan Stanley reissued an “overweight” rating and set a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.40.

Insider Activity

In other news, Director Sean Shao sold 60,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the transaction, the director owned 983,820 shares in the company, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.10% of the company’s stock.

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.