GDS Holdings $GDS Shares Bought by Barometer Capital Management Inc.

Key Points

• Barometer Capital Management dramatically increased its stake in GDS Holdings by 2,338.5% in the first quarter, buying 152,000 more shares and bringing its total to 158,500 shares worth about $6.39 million.
• Several other institutional investors also adjusted their positions, while hedge funds and institutions now own about 33.71% of GDS’s stock.
• GDS posted stronger-than-expected quarterly earnings, with EPS of $1.53 versus a consensus loss estimate, and analysts currently rate the stock a Buy with an average price target of $48.33.

Barometer Capital Management Inc. grew its holdings in shares of GDS Holdings (NASDAQ:GDS - Free Report) by 2,338.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,500 shares of the company's stock after purchasing an additional 152,000 shares during the period. GDS makes up 2.6% of Barometer Capital Management Inc.'s portfolio, making the stock its 10th biggest holding. Barometer Capital Management Inc. owned 0.08% of GDS worth $6,386,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in GDS by 30.7% during the first quarter. Royal Bank of Canada now owns 379,289 shares of the company's stock valued at $9,608,000 after purchasing an additional 89,059 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in GDS in the first quarter worth approximately $25,000. NewEdge Advisors LLC bought a new position in shares of GDS in the first quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of GDS by 113.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,836 shares of the company's stock valued at $56,000 after buying an additional 974 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of GDS by 41.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,806 shares of the company's stock valued at $55,000 after buying an additional 531 shares in the last quarter. Institutional investors and hedge funds own 33.71% of the company's stock.

Insider Activity

In other news, VP Yixin Qian sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $35.25, for a total value of $352,500.00. Following the transaction, the vice president owned 66,865 shares in the company, valued at $2,356,991.25. This represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Judy Qing Ye sold 37,394 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $36.21, for a total transaction of $1,354,036.74. The disclosure for this sale is available in the SEC filing. 7.99% of the stock is currently owned by corporate insiders.

GDS Trading Up 1.7%

NASDAQ GDS opened at $32.78 on Wednesday. GDS Holdings has a twelve month low of $26.97 and a twelve month high of $48.61. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 20.88 and a beta of 0.41. The firm's 50 day moving average price is $33.95 and its two-hundred day moving average price is $39.64.

GDS (NASDAQ:GDS - Get Free Report) last announced its earnings results on Friday, May 15th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $1.56. The company had revenue of $426.12 million for the quarter, compared to the consensus estimate of $436.44 million. GDS had a net margin of 23.83% and a return on equity of 15.62%. The company's revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.47 EPS. Equities analysts anticipate that GDS Holdings will post 5.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Zacks Research raised GDS from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 16th. Weiss Ratings raised GDS from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Wall Street Zen upgraded GDS from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Piper Sandler set a $36.00 price target on GDS in a research note on Thursday, May 21st. Finally, TD Cowen dropped their price target on GDS from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $48.33.

GDS Profile

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.

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