GDS Holdings Limited (NASDAQ:GDS) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA lowered its position in shares of GDS Holdings Limited (NASDAQ:GDSGet Rating) by 20.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the company’s stock after selling 20,900 shares during the period. Pictet Asset Management SA’s holdings in GDS were worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in GDS. E Fund Management Hong Kong Co. Ltd. increased its holdings in GDS by 136.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 52,305 shares of the company’s stock valued at $1,807,000 after purchasing an additional 30,138 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in GDS by 836.4% in the 1st quarter. Wolverine Asset Management LLC now owns 3,682 shares of the company’s stock valued at $144,000 after purchasing an additional 4,182 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in GDS by 109.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,434 shares of the company’s stock valued at $178,000 after purchasing an additional 1,798 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in GDS by 24.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 100,181 shares of the company’s stock valued at $3,932,000 after purchasing an additional 19,880 shares during the last quarter. Finally, KBC Group NV increased its holdings in GDS by 11.6% in the 1st quarter. KBC Group NV now owns 114,134 shares of the company’s stock valued at $4,480,000 after purchasing an additional 11,840 shares during the last quarter. Institutional investors and hedge funds own 42.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GDS. Nomura Instinet reiterated a “downgrade” rating on shares of GDS in a report on Friday, July 29th. Royal Bank of Canada downgraded shares of GDS from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $33.00 in a research note on Friday, August 26th. JPMorgan Chase & Co. downgraded shares of GDS from an “overweight” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Thursday, August 25th. Nomura downgraded shares of GDS from a “buy” rating to a “neutral” rating in a research note on Friday, July 29th. Finally, StockNews.com began coverage on shares of GDS in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.07.

GDS Price Performance

GDS stock opened at $13.82 on Tuesday. The stock has a market cap of $2.58 billion, a P/E ratio of -9.80 and a beta of 0.66. The company has a fifty day simple moving average of $15.45 and a 200-day simple moving average of $23.88. GDS Holdings Limited has a 12-month low of $8.41 and a 12-month high of $58.03. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.45.

GDS (NASDAQ:GDSGet Rating) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. GDS had a negative net margin of 18.23% and a negative return on equity of 6.63%. The firm had revenue of $344.94 million during the quarter, compared to analysts’ expectations of $341.75 million. Equities analysts expect that GDS Holdings Limited will post -1.54 EPS for the current fiscal year.

About GDS

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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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Institutional Ownership by Quarter for GDS (NASDAQ:GDS)

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