78,373 Shares in GDS Holdings $GDS Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in GDS Holdings (NASDAQ:GDS) during the second quarter, HoldingsChannel reports. The institutional investor acquired 78,373 shares of the company’s stock, valued at approximately $2,396,000.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in shares of GDS during the 1st quarter worth approximately $25,000. Brooklyn Investment Group raised its holdings in shares of GDS by 2,390.0% during the 1st quarter. Brooklyn Investment Group now owns 996 shares of the company’s stock worth $25,000 after acquiring an additional 956 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of GDS during the 1st quarter worth approximately $25,000. Summit Securities Group LLC purchased a new stake in shares of GDS during the 1st quarter worth approximately $26,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of GDS during the 1st quarter worth approximately $125,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GDS. Zacks Research cut GDS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Bank of America upped their price objective on GDS from $47.60 to $50.60 and gave the stock a “buy” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GDS in a report on Wednesday, October 8th. BMO Capital Markets raised GDS to a “market perform” rating in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised GDS from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $34.00 to $46.00 in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, GDS currently has an average rating of “Moderate Buy” and a consensus price target of $46.93.

GDS Trading Down 5.7%

Shares of GDS opened at $35.53 on Friday. GDS Holdings has a twelve month low of $16.92 and a twelve month high of $52.50. The company has a market cap of $6.77 billion, a P/E ratio of 10.51 and a beta of 0.36. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.71. The company’s fifty day simple moving average is $36.28 and its 200-day simple moving average is $31.83.

GDS Profile

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.