Nuveen LLC Makes New Investment in GDS Holdings $GDS

Key Points

• Nuveen LLC acquired 349,700 shares of GDS Holdings for approximately $8.86 million, representing a 0.18% ownership stake in the company.
• Shares of GDS Holdings have shown significant fluctuations, with a 1-year low of $15.88 and a high of $52.50, and currently trading around $33.51.
• Analysts have recently upgraded GDS Holdings' stock ratings, with Bank of America raising its price target from $47.60 to $50.60 and JPMorgan increasing it from $34.00 to $46.00.

Nuveen LLC bought a new stake in shares of GDS Holdings (NASDAQ:GDS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 349,700 shares of the company's stock, valued at approximately $8,858,000. Nuveen LLC owned approximately 0.18% of GDS at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in GDS by 2.1% during the 1st quarter. Invesco Ltd. now owns 90,278 shares of the company's stock valued at $2,287,000 after buying an additional 1,855 shares in the last quarter. Citigroup Inc. grew its stake in GDS by 804.9% during the 1st quarter. Citigroup Inc. now owns 293,556 shares of the company's stock valued at $7,436,000 after purchasing an additional 261,117 shares during the last quarter. XY Capital Ltd purchased a new stake in GDS during the 1st quarter valued at about $2,584,000. Bayforest Capital Ltd purchased a new stake in GDS during the 1st quarter valued at about $624,000. Finally, XTX Topco Ltd purchased a new stake in GDS during the 1st quarter valued at about $992,000. 33.71% of the stock is owned by institutional investors and hedge funds.

GDS Price Performance

Shares of NASDAQ:GDS traded down $0.52 during midday trading on Friday, hitting $34.56. The company had a trading volume of 3,930,620 shares, compared to its average volume of 2,280,647. GDS Holdings has a twelve month low of $15.91 and a twelve month high of $52.50. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 10.22 and a beta of 0.33. The business's 50-day simple moving average is $33.91 and its 200-day simple moving average is $30.38.

Wall Street Analyst Weigh In

GDS has been the topic of several research analyst reports. JMP Securities boosted their price target on GDS from $40.00 to $50.00 and gave the company a "market outperform" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded GDS from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upgraded GDS from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $34.00 to $46.00 in a research note on Wednesday, July 16th. Zacks Research downgraded GDS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Daiwa Capital Markets restated a "buy" rating on shares of GDS in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, GDS has a consensus rating of "Moderate Buy" and an average target price of $46.93.

About GDS

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.