Bank of America Corp DE Acquires 267,401 Shares of GDS Holdings Limited (NASDAQ:GDS)

Bank of America Corp DE boosted its holdings in GDS Holdings Limited (NASDAQ:GDS) by 150.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 445,652 shares of the company’s stock after acquiring an additional 267,401 shares during the period. Bank of America Corp DE owned 0.23% of GDS worth $10,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of GDS by 121.9% in the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock valued at $132,000 after buying an additional 3,053 shares in the last quarter. Pacer Advisors Inc. grew its holdings in GDS by 26.5% during the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after acquiring an additional 188,072 shares during the last quarter. abrdn plc grew its holdings in GDS by 5.4% during the 4th quarter. abrdn plc now owns 279,800 shares of the company’s stock worth $6,648,000 after acquiring an additional 14,300 shares during the last quarter. Macroview Investment Management LLC grew its holdings in GDS by 37.4% during the 4th quarter. Macroview Investment Management LLC now owns 18,550 shares of the company’s stock worth $441,000 after acquiring an additional 5,050 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of GDS in the 4th quarter worth approximately $1,938,000. Institutional investors own 33.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GDS shares. Raymond James upgraded shares of GDS from an “outperform” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research report on Thursday, March 20th. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of GDS in a research note on Wednesday. Finally, Royal Bank of Canada lowered shares of GDS from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $26.00 to $37.00 in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, GDS presently has an average rating of “Buy” and a consensus price target of $39.48.

GDS Price Performance

NASDAQ GDS opened at $28.50 on Friday. The company has a market cap of $5.43 billion, a PE ratio of -9.34 and a beta of 0.28. GDS Holdings Limited has a 52 week low of $7.35 and a 52 week high of $52.50. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25. The firm’s 50-day simple moving average is $24.71 and its two-hundred day simple moving average is $25.88.

GDS (NASDAQ:GDS) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.70. The business had revenue of $375.14 million for the quarter, compared to the consensus estimate of $2.72 billion. GDS had a negative net margin of 35.97% and a negative return on equity of 8.22%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.96) earnings per share. Research analysts predict that GDS Holdings Limited will post -0.89 earnings per share for the current year.

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.