abrdn plc Purchases 26,900 Shares of GDS Holdings Limited (NASDAQ:GDS)

abrdn plc increased its position in shares of GDS Holdings Limited (NASDAQ:GDS) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,500 shares of the company’s stock after purchasing an additional 26,900 shares during the period. abrdn plc’s holdings in GDS were worth $5,416,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GDS. BNP Paribas Financial Markets raised its stake in GDS by 51.0% during the 1st quarter. BNP Paribas Financial Markets now owns 185,137 shares of the company’s stock valued at $1,231,000 after purchasing an additional 62,521 shares during the period. Janney Montgomery Scott LLC grew its holdings in GDS by 55.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 144,449 shares of the company’s stock valued at $961,000 after buying an additional 51,439 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of GDS during the first quarter valued at approximately $188,000. SG Americas Securities LLC purchased a new position in shares of GDS in the first quarter worth $429,000. Finally, Baupost Group LLC MA bought a new position in shares of GDS during the first quarter worth $17,290,000. Institutional investors own 33.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GDS has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Bank of America boosted their target price on shares of GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.29.

GDS Trading Down 4.9 %

Shares of GDS opened at $20.84 on Monday. The company’s fifty day simple moving average is $19.70 and its 200-day simple moving average is $13.30. The company has a market cap of $3.97 billion, a P/E ratio of -6.49 and a beta of 0.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.30. GDS Holdings Limited has a twelve month low of $5.01 and a twelve month high of $24.50.

GDS (NASDAQ:GDS) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.07. GDS had a negative net margin of 39.96% and a negative return on equity of 9.10%. The business had revenue of $388.92 million during the quarter, compared to the consensus estimate of $384.14 million. As a group, analysts expect that GDS Holdings Limited will post -1.14 EPS for the current year.

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.