Nuveen LLC Invests $320,000 in VNET Group, Inc. – Unsponsored ADR $VNET

Nuveen LLC bought a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the first quarter, HoldingsChannel reports. The firm bought 39,000 shares of the information technology services provider’s stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of VNET Group by 111.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider’s stock worth $670,000 after acquiring an additional 42,710 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of VNET Group in the 4th quarter worth approximately $66,000. Cetera Investment Advisers acquired a new stake in shares of VNET Group in the 4th quarter worth approximately $102,000. Oppenheimer & Co. Inc. acquired a new stake in shares of VNET Group in the 1st quarter worth approximately $207,000. Finally, Barclays PLC grew its holdings in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 4,939 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Trading Up 3.4%

Shares of VNET opened at $7.90 on Friday. 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 firm has a market capitalization of $2.12 billion, a P/E ratio of -98.75, a price-to-earnings-growth ratio of 5.31 and a beta of 0.16. The stock’s fifty day simple moving average is $7.97 and its 200 day simple moving average is $7.66. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $2.66 and a twelve month high of $16.13.

VNET Group (NASDAQ:VNET) last issued its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share 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 analysts’ expectations of $2.27 billion. VNET Group had a return on equity of 0.98% and a net margin of 0.74%. VNET Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current year.

VNET Group declared that its Board of Directors has authorized a stock repurchase program on Friday, June 27th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, August 23rd. Bank of America increased their target price on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.96.

About VNET Group

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.