Irenic Capital Management LP Purchases Shares of 283,000 GDS Holdings $GDS

Key Points

• Irenic Capital Management bought 283,000 GDS Holdings shares worth approximately $8.5 million, giving it about 0.14% of the company and making GDS its 29th-largest holding.
• GDS reported quarterly revenue of $454.5 million and EPS of $0.52, while analysts expect full-year EPS of $2.23. Institutional investors and hedge funds collectively own 33.71% of the stock.
• GDS shares opened at $31.36, below their 50-day and 200-day moving averages; analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $48.12.

Irenic Capital Management LP purchased a new position in shares of GDS Holdings (NASDAQ:GDS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 283,000 shares of the company's stock, valued at approximately $8,498,000. GDS makes up 0.4% of Irenic Capital Management LP's holdings, making the stock its 29th largest holding. Irenic Capital Management LP owned approximately 0.14% of GDS as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GDS. Advisors Asset Management Inc. bought a new position in GDS during the first quarter worth $25,000. NewEdge Advisors LLC acquired a new position in shares of GDS during the first quarter valued at about $25,000. Leonteq Securities AG bought a new position in shares of GDS during the 4th quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in shares of GDS by 41.6% in the 2nd 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 during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in GDS by 113.0% in the 2nd 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. Institutional investors and hedge funds own 33.71% of the company's stock.

GDS Price Performance

GDS stock opened at $31.36 on Friday. The business's 50 day simple moving average is $32.16 and its 200 day simple moving average is $37.25. GDS Holdings has a 12 month low of $26.97 and a 12 month high of $48.61. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 14.59 and a beta of 0.43. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.22.

GDS (NASDAQ:GDS - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.52 earnings per share (EPS) for the quarter. GDS had a return on equity of 17.94% and a net margin of 30.70%.The business had revenue of $454.51 million during the quarter. Sell-side analysts forecast that GDS Holdings will post 2.23 EPS for the current year.

Insider Transactions at GDS

In related news, VP Yixin Qian sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $35.25, for a total transaction of $352,500.00. Following the sale, the vice president directly owned 66,865 shares in the company, valued at approximately $2,356,991.25. This represents a 13.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.99% of the company's stock.

Analyst Upgrades and Downgrades

GDS has been the subject of several recent research reports. TD Cowen decreased their price objective on GDS from $37.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of GDS in a report on Thursday, August 13th. Raymond James Financial reissued a "strong-buy" rating and issued a $51.00 price objective on shares of GDS in a research report on Tuesday. Wall Street Zen raised shares of GDS from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Piper Sandler set a $36.00 price target on shares of GDS in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.12.

GDS Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source