Polymer Capital Management HK LTD Makes New Investment in VNET Group, Inc. (NASDAQ:VNET)

Polymer Capital Management HK LTD acquired a new stake in VNET Group, Inc. (NASDAQ:VNET) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 198,647 shares of the information technology services provider’s stock, valued at approximately $942,000. Polymer Capital Management HK LTD owned 0.08% of VNET Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in VNET Group by 622.8% during the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock worth $4,690,000 after acquiring an additional 852,519 shares in the last quarter. HCEP Management Ltd acquired a new stake in VNET Group in the fourth quarter valued at $2,491,000. American Century Companies Inc. raised its position in shares of VNET Group by 20.4% during the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock worth $2,251,000 after acquiring an additional 80,516 shares in the last quarter. Anson Funds Management LP lifted its stake in VNET Group by 84.9% during the third quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock worth $1,836,000 after purchasing an additional 206,580 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in VNET Group by 534.6% in the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after purchasing an additional 343,140 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on VNET shares. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Citigroup upped their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, Nomura Securities upgraded VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $9.30.

VNET Group Trading Down 12.8 %

NASDAQ VNET opened at $6.39 on Monday. VNET Group, Inc. has a one year low of $1.42 and a one year high of $16.13. The firm has a market cap of $1.64 billion, a PE ratio of -2.88, a P/E/G ratio of 1.01 and a beta of 0.15. The firm’s fifty day moving average is $10.11 and its two-hundred day moving average is $6.25. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Analysts expect that VNET Group, Inc. will post -0.06 earnings per share for the current year.

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.