California Public Employees Retirement System lowered its stake in shares of 21Vianet Group Inc. (NASDAQ:VNET) by 16.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,600 shares of the company’s stock after selling 27,700 shares during the period. California Public Employees Retirement System owned about 0.16% of 21Vianet Group worth $1,395,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Kassirer Asset Management Corp purchased a new position in 21Vianet Group during the second quarter worth approximately $102,000. Quantitative Systematic Strategies LLC bought a new position in shares of 21Vianet Group during the second quarter worth $152,000. BlackRock Inc. increased its position in shares of 21Vianet Group by 2.5% in the first quarter. BlackRock Inc. now owns 17,482 shares of the company’s stock worth $349,000 after buying an additional 421 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 21Vianet Group by 17.3% in the first quarter. Geode Capital Management LLC now owns 21,980 shares of the company’s stock worth $438,000 after buying an additional 3,240 shares in the last quarter. Finally, Opera Trading Capital bought a new position in shares of 21Vianet Group during the first quarter worth $549,000. Institutional investors and hedge funds own 28.57% of the company’s stock.
21Vianet Group Inc. (NASDAQ:VNET) traded up 1.084% during midday trading on Wednesday, hitting $7.925. 212,923 shares of the company were exchanged. The stock’s market capitalization is $902.25 million. 21Vianet Group Inc. has a one year low of $7.74 and a one year high of $21.32. The firm’s 50-day moving average price is $8.46 and its 200-day moving average price is $12.56.
21Vianet Group (NASDAQ:VNET) last announced its quarterly earnings results on Tuesday, August 16th. The company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.08. 21Vianet Group had a negative net margin of 11.56% and a negative return on equity of 5.56%. The company had revenue of $137.10 million for the quarter, compared to the consensus estimate of $127.83 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities research analysts anticipate that 21Vianet Group Inc. will post ($0.59) earnings per share for the current year.
A number of brokerages have weighed in on VNET. Zacks Investment Research downgraded shares of 21Vianet Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 20th. JPMorgan Chase & Co. downgraded shares of 21Vianet Group from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $21.00 to $5.60 in a research note on Wednesday, August 17th. Finally, Morgan Stanley began coverage on shares of 21Vianet Group in a research note on Friday, July 8th. They issued an “underweight” rating and a $8.00 target price for the company.
About 21Vianet Group
21Vianet Group, Inc is a carrier-neutral Internet data center services provider. The Company hosts its customers’ servers and networking equipment and provides interconnectivity. The Company also provides managed network services to enable customers to deliver data across the Internet through its data transmission network and smart routing technology.