State of New Jersey Common Pension Fund D Buys 3,746 Shares of GDS Holdings $GDS

State of New Jersey Common Pension Fund D raised its stake in GDS Holdings (NASDAQ:GDS) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,694 shares of the company’s stock after acquiring an additional 3,746 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GDS were worth $1,122,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of GDS by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,177,503 shares of the company’s stock worth $29,826,000 after purchasing an additional 10,838 shares during the last quarter. Aberdeen Group plc increased its stake in GDS by 37.7% in the 2nd quarter. Aberdeen Group plc now owns 537,175 shares of the company’s stock worth $16,413,000 after acquiring an additional 147,028 shares during the last quarter. Royal Bank of Canada increased its stake in GDS by 30.7% in the 1st quarter. Royal Bank of Canada now owns 379,289 shares of the company’s stock worth $9,608,000 after acquiring an additional 89,059 shares during the last quarter. Nuveen LLC bought a new stake in GDS in the 1st quarter worth approximately $8,858,000. Finally, Citigroup Inc. increased its stake in GDS by 804.9% in the 1st quarter. Citigroup Inc. now owns 293,556 shares of the company’s stock worth $7,436,000 after acquiring an additional 261,117 shares during the last quarter. 33.71% of the stock is owned by institutional investors.

GDS Stock Performance

NASDAQ GDS opened at $35.70 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 2.00 and a current ratio of 2.00. GDS Holdings has a fifty-two week low of $16.92 and a fifty-two week high of $52.50. The company has a market cap of $6.80 billion, a P/E ratio of 10.56 and a beta of 0.36. The business’s 50 day moving average price is $36.33 and its 200-day moving average price is $32.10.

Analysts Set New Price Targets

GDS has been the topic of a number of research reports. JPMorgan Chase & Co. raised 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 research note on Wednesday, July 16th. Zacks Research cut shares of GDS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Weiss Ratings restated a “hold (c-)” rating on shares of GDS in a report on Wednesday, October 8th. Bank of America boosted their target price on shares of GDS from $47.60 to $50.60 and gave the stock a “buy” rating in a report on Friday, August 22nd. Finally, BMO Capital Markets upgraded shares of GDS to a “market perform” rating in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.93.

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.