Pinnacle Associates Ltd. Purchases 41,195 Shares of GDS Holdings (NASDAQ:GDS)

Key Points

• Pinnacle Associates Ltd. increased its position in GDS Holdings by 18.6% in Q1, now owning 262,787 shares valued at approximately $6.66 million.
• GDS stock has shown a 2.1% increase recently, reaching $36.78, with a market cap of $7.01 billion and a PE ratio of 11.28.
• Analysts have a consensus rating of "Buy" for GDS, with a target price of $40.57, and notable upgrades from firms like JPMorgan and BMO Capital Markets.

Pinnacle Associates Ltd. boosted its holdings in GDS Holdings (NASDAQ:GDS - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,787 shares of the company's stock after purchasing an additional 41,195 shares during the quarter. Pinnacle Associates Ltd. owned about 0.14% of GDS worth $6,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bamco Inc. NY increased its stake in GDS by 10.5% during the 4th quarter. Bamco Inc. NY now owns 6,673,226 shares of the company's stock valued at $158,556,000 after purchasing an additional 632,671 shares in the last quarter. Aspex Management HK Ltd increased its stake in GDS by 23.0% during the 4th quarter. Aspex Management HK Ltd now owns 4,926,727 shares of the company's stock valued at $117,059,000 after purchasing an additional 922,709 shares in the last quarter. American Century Companies Inc. increased its stake in GDS by 509.6% during the 4th quarter. American Century Companies Inc. now owns 2,323,482 shares of the company's stock valued at $55,206,000 after purchasing an additional 1,942,341 shares in the last quarter. Driehaus Capital Management LLC increased its stake in GDS by 195.6% during the 4th quarter. Driehaus Capital Management LLC now owns 1,845,623 shares of the company's stock valued at $43,852,000 after purchasing an additional 1,221,289 shares in the last quarter. Finally, Triata Capital Ltd bought a new stake in GDS during the 4th quarter valued at $41,472,000. Institutional investors own 33.71% of the company's stock.

GDS Stock Performance

Shares of NASDAQ:GDS traded down $0.21 during midday trading on Monday, reaching $36.58. The company had a trading volume of 284,412 shares, compared to its average volume of 2,835,555. The company's 50 day moving average price is $29.92 and its 200 day moving average price is $28.65. 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 stock has a market cap of $6.97 billion, a P/E ratio of 11.22 and a beta of 0.31. GDS Holdings has a 52-week low of $9.88 and a 52-week high of $52.50.

GDS (NASDAQ:GDS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.70. The company 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 firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.96) EPS. As a group, sell-side analysts anticipate that GDS Holdings will post -0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

GDS Company 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.