Dimensional Fund Advisors LP Has $3.42 Million Stock Position in VNET Group, Inc. (NASDAQ:VNET)

Dimensional Fund Advisors LP reduced its holdings in shares of VNET Group, Inc. (NASDAQ:VNET) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,633,703 shares of the information technology services provider’s stock after selling 108,467 shares during the period. Dimensional Fund Advisors LP owned 0.63% of VNET Group worth $3,422,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Catalina Capital Group LLC bought a new position in shares of VNET Group during the 1st quarter worth about $26,000. Susquehanna Fundamental Investments LLC acquired a new stake in VNET Group in the first quarter valued at approximately $328,000. Ballentine Partners LLC bought a new stake in shares of VNET Group during the second quarter valued at approximately $36,000. Virtu Financial LLC raised its position in shares of VNET Group by 135.9% during the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after purchasing an additional 58,817 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in shares of VNET Group by 1,199.7% in the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 39,050 shares in the last quarter. 72.83% of the stock is owned by institutional investors.

VNET Group Trading Down 2.3 %

Shares of VNET stock opened at $3.90 on Friday. VNET Group, Inc. has a 52-week low of $1.39 and a 52-week high of $4.50. The company has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $2.25. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -1.48, a PEG ratio of 8.72 and a beta of -0.30.

VNET Group (NASDAQ:VNET) last issued its quarterly 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. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. The company had revenue of $274.35 million during the quarter, compared to the consensus estimate of $266.56 million. Research analysts anticipate that VNET Group, Inc. will post 0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VNET. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research note on Wednesday. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. HSBC raised VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a report on Wednesday. Finally, Citigroup began coverage on VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 target price on the stock. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, VNET Group has a consensus rating of “Buy” and a consensus price target of $3.97.

VNET Group 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.