GDS Holdings $GDS Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in GDS Holdings by 25.4%, owning 181,153 shares valued at approximately $4.54 million after selling 61,795 shares in the first quarter.
• Other investors like Brooklyn Investment Group and Wells Fargo & Company significantly increased their holdings in GDS, indicating strong interest and market activity surrounding the stock.
• GDS has received mixed ratings from analysts, with a consensus rating of "Buy" and an average target price of $46.93 after various firms raised their target prices recently.

Hsbc Holdings PLC cut its holdings in shares of GDS Holdings (NASDAQ:GDS - Free Report) by 25.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,153 shares of the company's stock after selling 61,795 shares during the period. Hsbc Holdings PLC owned 0.10% of GDS worth $4,544,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Brooklyn Investment Group increased its position in shares of GDS by 2,390.0% during the first quarter. Brooklyn Investment Group now owns 996 shares of the company's stock worth $25,000 after purchasing an additional 956 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of GDS during the first quarter worth $26,000. Invesco Ltd. increased its position in shares of GDS by 2.1% during the first quarter. Invesco Ltd. now owns 90,278 shares of the company's stock worth $2,287,000 after purchasing an additional 1,855 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of GDS by 1,904.2% during the fourth 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. Finally, Vident Advisory LLC increased its position in shares of GDS by 23.9% in the 4th quarter. Vident Advisory LLC now owns 24,390 shares of the company's stock valued at $580,000 after acquiring an additional 4,710 shares during the period. 33.71% of the stock is owned by institutional investors and hedge funds.

GDS Trading Down 0.9%

GDS stock opened at $33.21 on Tuesday. The company's 50-day simple moving average is $33.34 and its 200-day simple moving average is $30.29. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.71. GDS Holdings has a 52-week low of $15.88 and a 52-week high of $52.50. The firm has a market cap of $6.33 billion, a P/E ratio of 9.83 and a beta of 0.33.

Wall Street Analyst Weigh In

GDS has been the topic of several research reports. BMO Capital Markets raised GDS to a "market perform" rating in a research report on Wednesday, July 16th. Bank of America upped their target price on GDS from $47.60 to $50.60 and gave the company a "buy" rating in a research report on Friday. JMP Securities upped 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. Daiwa Capital Markets reissued a "buy" rating on shares of GDS in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. raised GDS from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $34.00 to $46.00 in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $46.93.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.