Sachem Head Capital Management LP grew its position in GDS Holdings (NASDAQ:GDS – Free Report) by 45.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,300,000 shares of the company’s stock after acquiring an additional 2,885,000 shares during the period. GDS makes up 7.6% of Sachem Head Capital Management LP’s portfolio, making the stock its 4th biggest holding. Sachem Head Capital Management LP’s holdings in GDS were worth $324,570,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Assetmark Inc. grew its stake in shares of GDS by 1,123.2% in the third quarter. Assetmark Inc. now owns 685 shares of the company’s stock valued at $27,000 after buying an additional 629 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of GDS in the fourth quarter valued at $34,000. Advisors Asset Management Inc. acquired a new stake in shares of GDS in the first quarter valued at $25,000. NewEdge Advisors LLC acquired a new stake in shares of GDS in the first quarter valued at $25,000. Finally, Van ECK Associates Corp grew its stake in shares of GDS by 245.3% in the fourth quarter. Van ECK Associates Corp now owns 1,692 shares of the company’s stock valued at $59,000 after buying an additional 1,202 shares in the last quarter. 33.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on GDS. Wall Street Zen raised GDS from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Morgan Stanley restated an “overweight” rating and set a $64.00 price target on shares of GDS in a report on Tuesday, March 17th. Piper Sandler set a $36.00 price target on GDS in a report on Thursday, May 21st. Zacks Research downgraded GDS from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, TD Cowen cut their price target on GDS from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, GDS has an average rating of “Moderate Buy” and an average price target of $48.04.
Insider Activity
In other news, VP Yixin Qian sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $35.25, for a total transaction of $352,500.00. Following the completion of the transaction, the vice president directly owned 66,865 shares of the company’s stock, valued at approximately $2,356,991.25. This represents a 13.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Judy Qing Ye sold 37,394 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $36.21, for a total value of $1,354,036.74. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.99% of the company’s stock.
GDS Price Performance
Shares of NASDAQ GDS opened at $32.56 on Monday. The stock’s 50-day moving average is $39.94 and its two-hundred day moving average is $40.27. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.87 and a quick ratio of 1.87. GDS Holdings has a 1-year low of $25.47 and a 1-year high of $48.61. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 20.74 and a beta of 0.39.
GDS (NASDAQ:GDS – Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $1.56. GDS had a return on equity of 15.62% and a net margin of 23.83%.The company had revenue of $426.13 million for the quarter, compared to the consensus estimate of $436.44 million. During the same quarter in the prior year, the business earned $3.47 EPS. GDS’s revenue was up 23.7% on a year-over-year basis. Analysts forecast that GDS Holdings will post 5.65 EPS for the current fiscal year.
GDS Company Profile
GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.
GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.
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