Bank of America Corp DE Acquires 267,401 Shares of GDS Holdings Limited (NASDAQ:GDS)

Bank of America Corp DE increased its holdings in GDS Holdings Limited (NASDAQ:GDS - Free Report) by 150.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 445,652 shares of the company's stock after purchasing an additional 267,401 shares during the quarter. Bank of America Corp DE owned 0.23% of GDS worth $10,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company's stock valued at $75,000 after purchasing an additional 672 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of GDS by 1,904.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company's stock worth $90,000 after buying an additional 3,599 shares during the period. Blue Trust Inc. raised its holdings in GDS by 121.9% during the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company's stock valued at $132,000 after buying an additional 3,053 shares during the last quarter. LPL Financial LLC bought a new stake in GDS during the 4th quarter valued at $310,000. Finally, Bank of Montreal Can purchased a new stake in GDS during the 4th quarter valued at $428,000. Hedge funds and other institutional investors own 33.71% of the company's stock.

GDS Stock Up 1.3%

Shares of GDS traded up $0.32 on Thursday, reaching $25.09. The stock had a trading volume of 3,347,875 shares, compared to its average volume of 2,140,979. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. GDS Holdings Limited has a 12-month low of $7.59 and a 12-month high of $52.50. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -8.23 and a beta of 0.28. The company has a 50-day simple moving average of $24.51 and a 200-day simple moving average of $25.97.

GDS (NASDAQ:GDS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.70. The business had revenue of $375.14 million during the quarter, compared to analyst estimates of $2.72 billion. GDS had a negative return on equity of 8.22% and a negative net margin of 35.97%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.96) earnings per share. Sell-side analysts predict that GDS Holdings Limited will post -0.89 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Daiwa Capital Markets restated a "buy" rating on shares of GDS in a research report on Wednesday. Jefferies Financial Group upgraded GDS from a "hold" rating to a "buy" rating and set a $45.00 price target on the stock in a report on Tuesday, March 18th. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price objective on shares of GDS in a report on Wednesday, May 21st. Citigroup reiterated an "outperform" rating on shares of GDS in a research report on Thursday, March 20th. Finally, Raymond James upgraded GDS from an "outperform" rating to a "strong-buy" rating and set a $53.00 target price for the company in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $39.48.

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.