Driehaus Capital Management LLC Sells 246,816 Shares of GDS Holdings $GDS

Key Points

• Driehaus Capital Management LLC has reduced its stake in GDS Holdings by 13.4%, now owning approximately 1.6 million shares valued at around $40.5 million.
• Despite the reduction in holdings, several other institutional investors have increased their stakes in GDS, including Brooklyn Investment Group, which grew its position by 2,390% in the first quarter.
• Wall Street analysts have a generally optimistic outlook on GDS, with price targets raised by major firms, indicating potential growth; JMP Securities set a new target of $50.00.

Driehaus Capital Management LLC reduced its stake in GDS Holdings (NASDAQ:GDS - Free Report) by 13.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,598,807 shares of the company's stock after selling 246,816 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.84% of GDS worth $40,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group raised its position in GDS by 2,390.0% in the 1st quarter. Brooklyn Investment Group now owns 996 shares of the company's stock valued at $25,000 after buying an additional 956 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of GDS during the 1st quarter valued at $26,000. Wells Fargo & Company MN increased its position in shares of GDS by 1,904.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,788 shares of the company's stock valued at $90,000 after purchasing an additional 3,599 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GDS during the 1st quarter valued at $125,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of GDS during the 1st quarter valued at $176,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

GDS Stock Performance

Shares of GDS stock traded down $0.52 on Monday, hitting $34.56. 3,930,620 shares of the stock were exchanged, compared to its average volume of 2,370,391. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $6.59 billion, a PE ratio of 10.22 and a beta of 0.34. GDS Holdings has a one year low of $15.91 and a one year high of $52.50. The firm's 50 day moving average is $34.05 and its two-hundred day moving average is $30.28.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America raised their target price on GDS from $47.60 to $50.60 and gave the company a "buy" rating in a research report on Friday, August 22nd. JMP Securities raised their target price on GDS from $40.00 to $50.00 and gave the company a "market outperform" rating in a research report on Thursday, August 21st. Zacks Research lowered GDS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Daiwa Capital Markets reaffirmed a "buy" rating on shares of GDS in a research report on Wednesday, May 28th. Finally, BMO Capital Markets raised GDS to a "market perform" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.