GDS Holdings $GDS Shares Sold by American Century Companies Inc.

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. decreased its holdings in GDS Holdings (NASDAQ:GDS - Free Report) by 60.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 922,970 shares of the company's stock after selling 1,400,512 shares during the quarter. American Century Companies Inc. owned about 0.48% of GDS worth $23,379,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in GDS by 1,678.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,900 shares of the company's stock worth $1,663,000 after acquiring an additional 62,194 shares in the last quarter. Raymond James Financial Inc. purchased a new position in GDS in the fourth quarter worth $2,373,000. XY Capital Ltd purchased a new position in GDS in the first quarter worth $2,584,000. SG Americas Securities LLC purchased a new position in GDS in the first quarter worth $523,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of GDS in the first quarter valued at $532,000. Hedge funds and other institutional investors own 33.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GDS shares. JPMorgan Chase & Co. upgraded GDS from a "neutral" rating to an "overweight" rating and raised their price target for the company from $34.00 to $46.00 in a research report on Wednesday, July 16th. Bank of America increased their price objective on GDS from $47.60 to $50.60 and gave the company a "buy" rating in a research note on Friday, August 22nd. Daiwa Capital Markets reaffirmed a "buy" rating on shares of GDS in a research note on Wednesday, May 28th. BMO Capital Markets raised GDS to a "market perform" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised GDS from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.93.

GDS Trading Up 5.3%

Shares of NASDAQ GDS traded up $1.80 during midday trading on Thursday, hitting $35.47. The stock had a trading volume of 2,018,234 shares, compared to its average volume of 2,751,806. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 10.49 and a beta of 0.33. GDS Holdings has a 1-year low of $15.91 and a 1-year high of $52.50. 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 company has a fifty day moving average price of $33.60 and a 200 day moving average price of $30.34.

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.