American Century Companies Inc. Trims Stock Position in GDS Holdings $GDS

Key Points

• American Century Companies Inc. has reduced its stake in GDS Holdings by 60.3%, selling over 1.4 million shares, and now owns approximately 0.48% of the company valued at about $23.4 million.
• A number of other institutional investors have increased their positions, including Wells Fargo, which raised its stake by 1,904.2% during the last quarter.
• Analysts have a consensus rating of "Buy" for GDS, with a target price averaging $46.93, and several firms have recently upgraded their ratings and price targets for the stock.

American Century Companies Inc. lessened its position in GDS Holdings (NASDAQ:GDS - Free Report) by 60.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 922,970 shares of the company's stock after selling 1,400,512 shares during the quarter. American Century Companies Inc. owned approximately 0.48% of GDS worth $23,379,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in GDS by 2.1% during the 1st quarter. Invesco Ltd. now owns 90,278 shares of the company's stock worth $2,287,000 after purchasing an additional 1,855 shares during the period. Wells Fargo & Company MN increased its holdings in GDS by 1,904.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,788 shares of the company's stock worth $90,000 after purchasing an additional 3,599 shares during the period. Vident Advisory LLC increased its holdings in GDS by 23.9% during the 4th quarter. Vident Advisory LLC now owns 24,390 shares of the company's stock worth $580,000 after purchasing an additional 4,710 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of GDS during the 1st quarter worth about $125,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of GDS during the 1st quarter worth about $176,000. Hedge funds and other institutional investors own 33.71% of the company's stock.

GDS Stock Performance

GDS traded down $0.52 on Friday, hitting $34.56. 3,930,620 shares of the company traded hands, compared to its average volume of 2,280,647. The company has a 50 day moving average of $33.91 and a 200-day moving average of $30.38. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $6.59 billion, a PE ratio of 10.22 and a beta of 0.33. GDS Holdings has a 12-month low of $15.91 and a 12-month high of $52.50.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Daiwa Capital Markets reaffirmed a "buy" rating on shares of GDS in a research report on Wednesday, May 28th. Zacks Research cut GDS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Bank of America upped their price objective on GDS from $47.60 to $50.60 and gave the stock a "buy" rating in a research report on Friday, August 22nd. BMO Capital Markets raised GDS to a "market perform" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised GDS from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.93.

GDS Company 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.