VNET Group, Inc. – Unsponsored ADR $VNET Position Boosted by Alden Global Capital LLC

Alden Global Capital LLC grew its holdings in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 9.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,075,500 shares of the information technology services provider’s stock after acquiring an additional 92,600 shares during the quarter. VNET Group comprises 4.3% of Alden Global Capital LLC’s portfolio, making the stock its 9th largest holding. Alden Global Capital LLC’s holdings in VNET Group were worth $9,099,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of VNET Group during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its stake in VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 1,426 shares during the period. Allianz SE purchased a new stake in VNET Group in the fourth quarter worth $50,000. Headlands Technologies LLC purchased a new stake in VNET Group in the second quarter worth $55,000. Finally, Raymond James Financial Inc. purchased a new stake in VNET Group in the second quarter worth $69,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sean Shao sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the sale, the director directly owned 983,820 shares of the company’s stock, valued at approximately $1,682,332.20. This trade represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lifeng Chen sold 83,544 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total value of $126,151.44. Following the sale, the director directly owned 334,164 shares of the company’s stock, valued at $504,587.64. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 152,616 shares of company stock valued at $244,083 over the last three months. 12.10% of the stock is owned by corporate insiders.

VNET Group Stock Performance

NASDAQ:VNET opened at $9.23 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.99. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $5.31 and a 12-month high of $14.48. The stock has a 50-day moving average price of $9.32 and a 200 day moving average price of $9.79. The stock has a market capitalization of $2.50 billion, a P/E ratio of -6.74 and a beta of 0.25.

VNET Group (NASDAQ:VNET) last announced 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 net margin of 22.01% and a negative return on equity of 31.59%. The firm had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. Equities research analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VNET has been the topic of several recent research reports. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Bank of America set a $16.30 price target on VNET Group and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 price target on shares of VNET Group in a report on Tuesday, May 26th. Three research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.03.

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.