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

Bank of America Corp DE boosted its stake in GDS Holdings Limited (NASDAQ:GDS - Free Report) by 150.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.23% of GDS worth $10,589,000 at the end of the most recent quarter.

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

GDS Trading Up 0.3%

Shares of NASDAQ:GDS traded up $0.08 during midday trading on Thursday, hitting $24.85. 1,160,109 shares of the stock traded hands, compared to its average volume of 2,125,945. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25. The business's 50 day moving average is $24.58 and its two-hundred day moving average is $25.96. The stock has a market capitalization of $4.73 billion, a PE ratio of -8.14 and a beta of 0.28. GDS Holdings Limited has a one year low of $7.35 and a one year high of $52.50.

GDS (NASDAQ:GDS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.48 earnings per share 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 analysts' expectations of $2.72 billion. During the same period in the previous year, the firm posted ($1.96) EPS. The business's revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that GDS Holdings Limited will post -0.89 earnings per share for the current year.

Wall Street Analyst Weigh In

GDS has been the subject of a number of analyst reports. Daiwa Capital Markets reissued a "buy" rating on shares of GDS in a research report on Wednesday. JMP Securities reaffirmed a "market outperform" rating and set a $40.00 target price on shares of GDS in a research report on Wednesday, May 21st. Citigroup restated an "outperform" rating on shares of GDS in a research note on Thursday, March 20th. Wall Street Zen raised GDS from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada downgraded GDS from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $26.00 to $37.00 in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $39.48.

GDS 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.