PNC Financial Services Group Inc. Cuts Position in GDS Holdings $GDS

PNC Financial Services Group Inc. reduced its position in shares of GDS Holdings (NASDAQ:GDS) by 32.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,143 shares of the company’s stock after selling 1,034 shares during the period. PNC Financial Services Group Inc.’s holdings in GDS were worth $54,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in GDS by 1,678.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,900 shares of the company’s stock worth $1,663,000 after buying an additional 62,194 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in GDS during the 4th quarter worth approximately $2,373,000. SG Americas Securities LLC purchased a new stake in GDS during the 1st quarter worth approximately $523,000. Hsbc Holdings PLC increased its stake in GDS by 28.7% during the 4th quarter. Hsbc Holdings PLC now owns 242,948 shares of the company’s stock worth $5,772,000 after buying an additional 54,160 shares in the last quarter. Finally, APEIRON CAPITAL Ltd purchased a new stake in GDS during the 1st quarter worth approximately $382,000. 33.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GDS. Daiwa Capital Markets reiterated a “buy” rating on shares of GDS in a research note on Wednesday, May 28th. JPMorgan Chase & Co. upgraded GDS from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $34.00 to $46.00 in a research note on Wednesday, July 16th. Wall Street Zen upgraded GDS from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. BMO Capital Markets upgraded GDS to a “market perform” rating in a report on Wednesday, July 16th. Finally, JMP Securities boosted their target price on GDS from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $42.23.

GDS Trading Down 5.6%

Shares of GDS stock opened at $32.00 on Friday. The stock has a market cap of $6.10 billion, a P/E ratio of 9.47 and a beta of 0.33. The stock’s 50 day simple moving average is $33.09 and its 200-day simple moving average is $30.14. GDS Holdings has a 1-year low of $14.32 and a 1-year high of $52.50. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.47 and a quick ratio of 1.47.

GDS (NASDAQ:GDS) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.70. GDS had a return on equity of 1.45% and a net margin of 40.83%.The firm had revenue of $375.14 million for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the prior year, the firm posted ($1.96) earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts predict that GDS Holdings will post -0.89 EPS for the current fiscal year.

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.