Bank of America Corp DE Increases Stock Position in GDS Holdings Limited (NASDAQ:GDS)

Bank of America Corp DE raised its stake in shares of GDS Holdings Limited (NASDAQ:GDS - Free Report) by 150.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 445,652 shares of the company's stock after acquiring an additional 267,401 shares during the period. Bank of America Corp DE owned approximately 0.23% of GDS worth $10,589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GDS. Alberta Investment Management Corp bought a new position in GDS during the fourth quarter valued at approximately $4,935,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of GDS by 165.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 54,127 shares of the company's stock valued at $1,286,000 after buying an additional 33,741 shares during the period. Raymond James Financial Inc. purchased a new position in shares of GDS in the 4th quarter worth $2,373,000. State of New Jersey Common Pension Fund D bought a new stake in shares of GDS in the fourth quarter worth $1,938,000. Finally, American Century Companies Inc. increased its position in GDS by 509.6% during the fourth quarter. American Century Companies Inc. now owns 2,323,482 shares of the company's stock valued at $55,206,000 after acquiring an additional 1,942,341 shares during the last quarter. Hedge funds and other institutional investors own 33.71% of the company's stock.

GDS Price Performance

Shares of GDS traded down $1.36 during trading hours on Tuesday, reaching $27.14. 2,621,432 shares of the stock traded hands, compared to its average volume of 2,099,966. The company has a market cap of $5.17 billion, a P/E ratio of -8.90 and a beta of 0.28. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25. The company's 50-day moving average price is $24.66 and its two-hundred day moving average price is $25.96. GDS Holdings Limited has a 52-week low of $7.35 and a 52-week high of $52.50.

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. GDS had a negative return on equity of 8.22% and a negative net margin of 35.97%. The business had revenue of $375.14 million for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the business earned ($1.96) earnings per share. The business's revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that GDS Holdings Limited will post -0.89 earnings per share for the current year.

Analysts Set New Price Targets

GDS has been the topic of several research reports. Daiwa Capital Markets raised GDS from a "neutral" rating to a "buy" rating in a research report on Tuesday, February 11th. Wall Street Zen raised shares of GDS from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Raymond James raised shares of 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. Citigroup reiterated an "outperform" rating on shares of GDS in a research report on Thursday, March 20th. Finally, JMP Securities reissued a "market outperform" rating and set a $40.00 price objective on shares of GDS in a research report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $39.48.

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.