D. E. Shaw & Co. Inc. Takes $7.18 Million Position in VNET Group, Inc. (NASDAQ:VNET)

D. E. Shaw & Co. Inc. bought a new stake in shares of VNET Group, Inc. (NASDAQ:VNET) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,515,401 shares of the information technology services provider’s stock, valued at approximately $7,183,000. D. E. Shaw & Co. Inc. owned approximately 0.59% of VNET Group at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Barclays PLC raised its position in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 4,939 shares in the last quarter. Headlands Technologies LLC raised its position in VNET Group by 5.7% in the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 7,737 shares during the period. Catalina Capital Group LLC purchased a new stake in VNET Group in the 4th quarter worth about $54,000. Blue Trust Inc. raised its position in VNET Group by 29.1% in the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 12,237 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in VNET Group in the 4th quarter worth about $66,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

VNET Group Price Performance

Shares of VNET stock opened at $5.99 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $1.54 billion, a P/E ratio of -2.70, a P/E/G ratio of 1.01 and a beta of 0.14. The company’s 50-day simple moving average is $7.15 and its two-hundred day simple moving average is $6.65. VNET Group, Inc. has a one year low of $1.71 and a one year high of $16.13.

VNET Group (NASDAQ:VNET) last issued its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. As a group, equities analysts anticipate that VNET Group, Inc. will post -0.06 EPS for the current year.

Analyst Ratings Changes

VNET has been the topic of a number of recent analyst reports. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup increased their price objective on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $9.30.

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.