Infini Capital Management Ltd Reduces Position in VNET Group, Inc. – Unsponsored ADR $VNET

Infini Capital Management Ltd trimmed its position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 11.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,601,395 shares of the information technology services provider’s stock after selling 1,156,688 shares during the period. VNET Group makes up about 87.1% of Infini Capital Management Ltd’s holdings, making the stock its largest holding. Infini Capital Management Ltd’s holdings in VNET Group were worth $88,852,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of VNET. EverSource Wealth Advisors LLC grew its stake in VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,426 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in VNET Group during the 2nd quarter worth $43,000. Headlands Technologies LLC bought a new stake in VNET Group during the second quarter valued at about $55,000. Persistent Asset Partners Ltd bought a new stake in VNET Group during the third quarter valued at about $100,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of VNET Group in the second quarter valued at about $69,000. 72.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, VNET Group presently has a consensus rating of “Hold” and a consensus price target of $16.30.

VNET Group Price Performance

Shares of VNET Group stock opened at $9.79 on Tuesday. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $2.63 billion, a PE ratio of -32.63, a price-to-earnings-growth ratio of 0.75 and a beta of 0.01. The firm has a fifty day moving average price of $10.92 and a two-hundred day moving average price of $9.80. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $4.65 and a fifty-two week high of $14.48.

VNET Group Profile

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.