Blue Trust Inc. Buys 37,322 Shares of VNET Group, Inc. (NASDAQ:VNET)

Blue Trust Inc. boosted its stake in shares of VNET Group, Inc. (NASDAQ:VNET) by 785.4% in the third quarter, Holdings Channel reports. The firm owned 42,074 shares of the information technology services provider’s stock after acquiring an additional 37,322 shares during the period. Blue Trust Inc.’s holdings in VNET Group were worth $172,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in VNET Group during the third quarter worth approximately $1,092,000. Millennium Management LLC boosted its position in VNET Group by 89.1% during the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock worth $6,229,000 after purchasing an additional 1,400,683 shares during the period. Catalina Capital Group LLC bought a new stake in VNET Group during the first quarter worth approximately $26,000. Susquehanna Fundamental Investments LLC bought a new stake in VNET Group during the first quarter worth approximately $328,000. Finally, Ballentine Partners LLC bought a new stake in VNET Group during the second quarter worth approximately $36,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Stock Up 1.8 %

Shares of VNET stock opened at $3.37 on Friday. The stock has a 50 day moving average of $3.18 and a 200-day moving average of $2.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The firm has a market cap of $867.44 million, a PE ratio of -1.44, a price-to-earnings-growth ratio of 7.13 and a beta of -0.30. VNET Group, Inc. has a 12 month low of $1.39 and a 12 month high of $4.50.

VNET Group (NASDAQ:VNET) last issued its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $274.35 million during the quarter, compared to analyst estimates of $266.56 million. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. On average, equities analysts predict that VNET Group, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

VNET has been the subject of a number of recent analyst reports. Citigroup initiated coverage on VNET Group in a research report on Wednesday, September 4th. They set a “buy” rating and a $4.00 target price for the company. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target for the company in a report on Wednesday, October 9th. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3.97.

VNET Group Company Profile

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.