Harvest Fund Management Co. Ltd Invests $176,000 in GDS Holdings (NASDAQ:GDS)

Key Points

• Harvest Fund Management Co. Ltd acquired a new stake in GDS Holdings, purchasing 6,962 shares valued at approximately $176,000 in the first quarter.
• In a recent analyst report, JPMorgan Chase & Co. upgraded GDS from "neutral" to "overweight," raising the target price from $34 to $46.
• GDS Holdings reported a quarterly earnings per share (EPS) of $0.48, exceeding analyst expectations by $0.70, with a revenue of $375.14 million, marking a 3.6% increase year-over-year.

Harvest Fund Management Co. Ltd bought a new stake in shares of GDS Holdings (NASDAQ:GDS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,962 shares of the company's stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. LPL Financial LLC acquired a new position in GDS during the 4th quarter valued at approximately $310,000. Geode Capital Management LLC increased its stake in GDS by 25.8% during the 4th quarter. Geode Capital Management LLC now owns 96,933 shares of the company's stock valued at $2,303,000 after purchasing an additional 19,876 shares in the last quarter. Wells Fargo & Company MN increased its stake in 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 in the last quarter. Bank of Montreal Can acquired a new position in GDS during the 4th quarter valued at approximately $428,000. Finally, Invesco Ltd. increased its stake in shares of GDS by 4.1% in the fourth quarter. Invesco Ltd. now owns 88,423 shares of the company's stock worth $2,101,000 after acquiring an additional 3,481 shares during the period. Hedge funds and other institutional investors own 33.71% of the company's stock.

GDS Price Performance

GDS traded down $1.95 during midday trading on Friday, hitting $34.12. 2,134,924 shares of the company traded hands, compared to its average volume of 1,975,353. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 10.47 and a beta of 0.33. GDS Holdings has a 52-week low of $9.88 and a 52-week high of $52.50. The business has a 50 day simple moving average of $30.66 and a two-hundred day simple moving average of $29.05.

GDS (NASDAQ:GDS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.70. The business had revenue of $375.14 million for the quarter, compared to the consensus estimate of $2.72 billion. GDS had a net margin of 39.90% and a return on equity of 0.78%. The company's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.96) earnings per share. On average, equities analysts forecast that GDS Holdings will post -0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GDS shares. Daiwa Capital Markets reiterated a "buy" rating on shares of GDS in a research note on Wednesday, May 28th. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price objective on shares of GDS in a research note on Wednesday, May 21st. Wall Street Zen upgraded shares of GDS from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. BMO Capital Markets upgraded shares of GDS to a "market perform" rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. upgraded shares of GDS from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $34.00 to $46.00 in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, GDS currently has an average rating of "Buy" and an average price target of $40.57.

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.