Y Intercept Hong Kong Ltd Sells 213,424 Shares of VNET Group, Inc. – Unsponsored ADR $VNET

Y Intercept Hong Kong Ltd reduced its stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 54.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 178,808 shares of the information technology services provider’s stock after selling 213,424 shares during the period. Y Intercept Hong Kong Ltd’s holdings in VNET Group were worth $1,847,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in VNET Group in the 2nd quarter valued at about $34,000. Public Employees Retirement System of Ohio increased its stake in shares of VNET Group by 16.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after purchasing an additional 2,100 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in VNET Group in the second quarter valued at approximately $194,000. Envestnet Asset Management Inc. boosted its holdings in VNET Group by 21.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock worth $1,690,000 after acquiring an additional 43,392 shares during the period. Finally, Aperture Investors LLC bought a new stake in shares of VNET Group in the 2nd quarter valued at approximately $1,259,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VNET has been the subject of several recent research reports. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.30.

VNET Group Stock Down 2.6%

Shares of NASDAQ:VNET opened at $11.00 on Friday. The stock has a 50 day moving average price of $9.48 and a 200-day moving average price of $9.15. VNET Group, Inc. – Unsponsored ADR has a 52-week low of $4.65 and a 52-week high of $16.13. The firm has a market capitalization of $2.96 billion, a P/E ratio of -36.67, a P/E/G ratio of 0.89 and a beta of -0.02. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 0.90.

VNET Group (NASDAQ:VNET) last issued its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. The company had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. As a group, equities research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current fiscal year.

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.