Thornburg Investment Management Inc. Grows Position in 21Vianet Group, Inc. (NASDAQ:VNET)

Thornburg Investment Management Inc. lifted its holdings in shares of 21Vianet Group, Inc. (NASDAQ:VNET) by 30.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,253,012 shares of the information technology services provider’s stock after buying an additional 751,091 shares during the period. 21Vianet Group makes up 0.9% of Thornburg Investment Management Inc.’s portfolio, making the stock its 29th biggest position. Thornburg Investment Management Inc.’s holdings in 21Vianet Group were worth $74,657,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. TT International Asset Management LTD boosted its position in 21Vianet Group by 83.4% in the second quarter. TT International Asset Management LTD now owns 9,666,999 shares of the information technology services provider’s stock worth $221,857,000 after purchasing an additional 4,396,872 shares during the last quarter. Blackstone Group Inc. purchased a new position in shares of 21Vianet Group during the 1st quarter valued at about $275,669,000. Cederberg Capital Ltd purchased a new position in shares of 21Vianet Group during the 1st quarter valued at about $233,870,000. BlackRock Inc. lifted its position in shares of 21Vianet Group by 117.8% during the 1st quarter. BlackRock Inc. now owns 3,808,000 shares of the information technology services provider’s stock valued at $122,999,000 after buying an additional 2,059,245 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of 21Vianet Group by 6.0% during the 1st quarter. Principal Financial Group Inc. now owns 2,422,368 shares of the information technology services provider’s stock valued at $78,243,000 after buying an additional 137,314 shares in the last quarter. 68.96% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research raised 21Vianet Group from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Thursday, August 26th. JPMorgan Chase & Co. assumed coverage on 21Vianet Group in a research note on Tuesday, August 17th. They set an “overweight” rating and a $27.00 target price on the stock. Citigroup decreased their target price on 21Vianet Group from $43.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, August 25th. Finally, TheStreet downgraded 21Vianet Group from a “c” rating to a “d” rating in a research note on Wednesday, June 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $30.00.

NASDAQ:VNET traded up $0.03 during trading hours on Friday, reaching $19.14. The stock had a trading volume of 10,745 shares, compared to its average volume of 2,100,516. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.37 and a current ratio of 1.37. 21Vianet Group, Inc. has a 52 week low of $14.11 and a 52 week high of $44.45. The company has a 50 day moving average price of $18.65 and a two-hundred day moving average price of $24.19. The stock has a market capitalization of $2.61 billion, a PE ratio of -15.73 and a beta of 0.20.

21Vianet Group (NASDAQ:VNET) last released its quarterly earnings data on Monday, August 23rd. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $3.09. 21Vianet Group had a negative return on equity of 7.80% and a negative net margin of 10.03%. Equities research analysts predict that 21Vianet Group, Inc. will post 0.13 EPS for the current year.

21Vianet Group Profile

21Vianet Group, Inc is a holding company, which engages in the provision of carrier-neutral internet data center services. Its services include interconnectivity, colocation or data center managed hosting services, and cloud services. The company was founded by Sheng Chen and Jun Zhang on October 16, 1999 and is headquartered in Beijing, China.

Featured Article: Initial Coin Offerings entail a high degree of risk

Want to see what other hedge funds are holding VNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 21Vianet Group, Inc. (NASDAQ:VNET).

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

Receive News & Ratings for 21Vianet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 21Vianet Group and related companies with MarketBeat.com's FREE daily email newsletter.