Mirae Asset Global Investments Co. Ltd. Sells 61,635 Shares of GDS Holdings $GDS

Key Points

• Mirae Asset Global Investments significantly reduced its stake in GDS Holdings by 93.5% during the second quarter, selling 61,635 shares and leaving them with only 4,265 shares valued at approximately $130,000.
• Multiple investment firms have altered their positions in GDS, with Brooklyn Investment Group increasing its stake by 2,390% and other firms buying new positions valued around $25,000 each.
• Analysts have given GDS a range of ratings, with two analysts recommending it as a Strong Buy and others providing ratings varying from Hold to Buy, along with an average target price of $46.93.

Mirae Asset Global Investments Co. Ltd. lessened its stake in GDS Holdings (NASDAQ:GDS - Free Report) by 93.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,265 shares of the company's stock after selling 61,635 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in GDS were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Brooklyn Investment Group increased its stake in GDS by 2,390.0% during the 1st quarter. Brooklyn Investment Group now owns 996 shares of the company's stock valued at $25,000 after purchasing an additional 956 shares in the last quarter. Advisors Asset Management Inc. bought a new position in GDS in the 1st quarter valued at approximately $25,000. NewEdge Advisors LLC bought a new position in GDS in the 1st quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in GDS in the 1st quarter valued at approximately $26,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of GDS in the first quarter worth $125,000. Hedge funds and other institutional investors own 33.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GDS shares. BMO Capital Markets upgraded GDS to a "market perform" rating in a research note on Wednesday, July 16th. Bank of America lifted their price objective on GDS from $47.60 to $50.60 and gave the stock a "buy" rating in a report on Friday, August 22nd. Zacks Research downgraded shares of GDS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Weiss Ratings restated a "hold (c-)" rating on shares of GDS in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of GDS from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $34.00 to $46.00 in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $46.93.

GDS Trading Down 13.3%

Shares of GDS stock opened at $33.31 on Friday. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 9.86 and a beta of 0.36. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a fifty day moving average price of $36.17 and a 200-day moving average price of $30.61. GDS Holdings has a 1 year low of $16.92 and a 1 year high of $52.50.

GDS 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.

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