Catalina Capital Group LLC Takes Position in VNET Group, Inc. (NASDAQ:VNET)

Catalina Capital Group LLC bought a new stake in VNET Group, Inc. (NASDAQ:VNETFree Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,874 shares of the information technology services provider’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jump Financial LLC lifted its stake in shares of VNET Group by 101.6% in the 4th quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 42,537 shares during the period. Virtu Financial LLC raised its stake in 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 valued at $293,000 after buying an additional 58,817 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in VNET Group by 14.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,525,707 shares of the information technology services provider’s stock valued at $4,379,000 after buying an additional 188,593 shares during the last quarter. AI Squared Management Ltd purchased a new position in VNET Group during the fourth quarter valued at $893,000. Finally, Pacer Advisors Inc. purchased a new position in VNET Group during the fourth quarter valued at $2,021,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET Group stock traded down $0.16 during mid-day trading on Wednesday, reaching $2.25. 1,335,724 shares of the stock traded hands, compared to its average volume of 1,569,421. The stock has a market capitalization of $579.15 million, a PE ratio of -0.85 and a beta of -0.35. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. VNET Group, Inc. has a 12-month low of $1.39 and a 12-month high of $3.88. The business’s 50-day moving average is $2.09 and its 200-day moving average is $1.94.

VNET Group (NASDAQ:VNETGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The firm had revenue of $262.89 million for the quarter, compared to analysts’ expectations of $258.78 million. VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 4th. Bank of America raised VNET Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $3.90 to $2.70 in a report on Tuesday, March 19th.

Read Our Latest Stock Analysis on VNET Group

VNET Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for VNET Group (NASDAQ:VNET)

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