368,879 Shares in VNET Group, Inc. – Unsponsored ADR $VNET Purchased by Regal Partners Ltd

Regal Partners Ltd purchased a new stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 368,879 shares of the information technology services provider’s stock, valued at approximately $3,095,000. Regal Partners Ltd owned 0.14% of VNET Group as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Triata Capital Ltd grew its holdings in shares of VNET Group by 4.6% during the 4th quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock worth $105,740,000 after purchasing an additional 550,841 shares in the last quarter. Norges Bank bought a new stake in shares of VNET Group during the fourth quarter valued at approximately $65,650,000. Farallon Capital Management LLC raised its stake in shares of VNET Group by 14.5% in the fourth quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock valued at $53,174,000 after purchasing an additional 796,266 shares in the last quarter. UBS Group AG lifted its position in VNET Group by 73.2% in the third quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after purchasing an additional 1,809,987 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in VNET Group by 674.8% in the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after purchasing an additional 2,911,604 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analyst Ratings Changes

VNET has been the topic of several analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $16.00 price target on shares of VNET Group in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of VNET Group in a report on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective for the company. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, VNET Group currently has a consensus rating of “Moderate Buy” and an average price target of $17.40.

VNET Group Trading Down 5.9%

Shares of VNET Group stock opened at $6.75 on Wednesday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -4.93 and a beta of 0.28. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The company has a 50-day simple moving average of $8.64 and a 200 day simple moving average of $9.59. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $6.54 and a 12-month high of $14.48.

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

Insider Transactions at VNET Group

In other VNET Group news, Director Sean Shao sold 60,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the transaction, the director directly owned 983,820 shares in the company, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

About VNET Group

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.