Krane Funds Advisors LLC trimmed its stake in shares of 21Vianet Group Inc (NASDAQ:VNET) by 64.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 584,668 shares of the information technology services provider’s stock after selling 1,041,520 shares during the period. 21Vianet Group makes up about 0.5% of Krane Funds Advisors LLC’s holdings, making the stock its 27th largest position. Krane Funds Advisors LLC’s holdings in 21Vianet Group were worth $5,671,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in VNET. Renaissance Technologies LLC bought a new stake in shares of 21Vianet Group in the 2nd quarter worth approximately $8,893,000. Oppenheimer & Co. Inc. bought a new stake in shares of 21Vianet Group in the 2nd quarter worth approximately $294,000. BlackRock Inc. raised its holdings in shares of 21Vianet Group by 5.2% in the 2nd quarter. BlackRock Inc. now owns 1,432,273 shares of the information technology services provider’s stock worth $13,892,000 after purchasing an additional 71,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 21Vianet Group by 277.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 352,935 shares of the information technology services provider’s stock worth $3,423,000 after purchasing an additional 259,460 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of 21Vianet Group by 34.6% in the 2nd quarter. Virtu Financial LLC now owns 20,857 shares of the information technology services provider’s stock worth $202,000 after purchasing an additional 5,357 shares in the last quarter. Institutional investors own 30.52% of the company’s stock.
Shares of VNET stock traded down $0.02 during trading hours on Wednesday, reaching $9.69. 9,055 shares of the stock traded hands, compared to its average volume of 503,597. 21Vianet Group Inc has a 1-year low of $5.01 and a 1-year high of $11.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market capitalization of $1.09 billion, a P/E ratio of -40.08 and a beta of 2.03.
21Vianet Group (NASDAQ:VNET) last released its quarterly earnings results on Thursday, August 16th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). 21Vianet Group had a negative net margin of 18.44% and a positive return on equity of 2.05%. The business had revenue of $125.18 million for the quarter. sell-side analysts predict that 21Vianet Group Inc will post 0.01 EPS for the current fiscal year.
VNET has been the topic of a number of research reports. ValuEngine upgraded shares of 21Vianet Group from a “hold” rating to a “buy” rating in a report on Friday, June 1st. BidaskClub lowered shares of 21Vianet Group from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Zacks Investment Research upgraded shares of 21Vianet Group from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Saturday, August 18th.
21Vianet Group Company Profile
21Vianet Group, Inc provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network; and other hosting related value-added services.
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