Jericho Capital Asset Management L.P. Sells 692,518 Shares of 21Vianet Group, Inc. (NASDAQ:VNET)

Jericho Capital Asset Management L.P. decreased its position in shares of 21Vianet Group, Inc. (NASDAQ:VNET) by 31.5% in the first quarter, HoldingsChannel reports. The firm owned 1,504,185 shares of the information technology services provider’s stock after selling 692,518 shares during the quarter. Jericho Capital Asset Management L.P.’s holdings in 21Vianet Group were worth $48,585,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Standard Life Aberdeen plc bought a new position in shares of 21Vianet Group in the 1st quarter valued at about $1,403,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in 21Vianet Group in the first quarter worth about $1,160,000. Wrapmanager Inc. lifted its stake in 21Vianet Group by 30.1% in the first quarter. Wrapmanager Inc. now owns 8,843 shares of the information technology services provider’s stock worth $286,000 after purchasing an additional 2,045 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in 21Vianet Group by 466.6% in the first quarter. BNP Paribas Arbitrage SA now owns 151,373 shares of the information technology services provider’s stock worth $4,889,000 after purchasing an additional 124,656 shares during the last quarter. Finally, Ocean Arete Ltd. bought a new stake in 21Vianet Group in the first quarter worth about $3,230,000. Hedge funds and other institutional investors own 71.48% of the company’s stock.

VNET stock traded down $0.38 during trading on Thursday, hitting $18.37. 5,990 shares of the company’s stock traded hands, compared to its average volume of 1,682,436. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -4.73 and a beta of 0.19. The stock’s fifty day moving average price is $21.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.73. 21Vianet Group, Inc. has a 1 year low of $16.94 and a 1 year high of $44.45.

21Vianet Group (NASDAQ:VNET) last issued its quarterly earnings data on Monday, May 24th. The information technology services provider reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.12). The business had revenue of $211.69 million for the quarter, compared to analysts’ expectations of $213.19 million. 21Vianet Group had a negative net margin of 59.54% and a negative return on equity of 49.77%. On average, sell-side analysts anticipate that 21Vianet Group, Inc. will post -0.38 EPS for the current fiscal year.

A number of equities analysts have recently commented on VNET shares. TheStreet lowered shares of 21Vianet Group from a “c” rating to a “d” rating in a research report on Wednesday, June 30th. Zacks Investment Research raised shares of 21Vianet Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 9th.

21Vianet Group Company Profile

21Vianet Group, Inc, an investment holding company, provides hosting and related 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.

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Institutional Ownership by Quarter for 21Vianet Group (NASDAQ:VNET)

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