Barometer Capital Management Inc. Buys 152,000 Shares of GDS Holdings $GDS

Barometer Capital Management Inc. increased its position in shares of GDS Holdings (NASDAQ:GDS) by 2,338.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 158,500 shares of the company’s stock after buying an additional 152,000 shares during the quarter. GDS comprises about 2.6% of Barometer Capital Management Inc.’s holdings, making the stock its 10th biggest position. Barometer Capital Management Inc.’s holdings in GDS were worth $6,386,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GDS. PNC Financial Services Group Inc. grew its stake in GDS by 8.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,904 shares of the company’s stock valued at $157,000 after purchasing an additional 303 shares in the last quarter. Harbor Advisors LLC raised its stake in shares of GDS by 137.5% during the 1st quarter. Harbor Advisors LLC now owns 47,500 shares of the company’s stock worth $1,914,000 after purchasing an additional 27,500 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of GDS during the 1st quarter worth about $68,092,000. Parallel Advisors LLC lifted its holdings in shares of GDS by 6.2% during the 1st quarter. Parallel Advisors LLC now owns 7,330 shares of the company’s stock valued at $295,000 after buying an additional 429 shares during the last quarter. Finally, Future Fund LLC lifted its holdings in shares of GDS by 25.3% during the 1st quarter. Future Fund LLC now owns 89,821 shares of the company’s stock valued at $3,619,000 after buying an additional 18,122 shares during the last quarter. Institutional investors and hedge funds own 33.71% of the company’s stock.

GDS Stock Performance

Shares of NASDAQ GDS opened at $32.78 on Wednesday. The business’s 50-day simple moving average is $33.95 and its 200-day simple moving average is $39.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.87 and a current ratio of 1.87. GDS Holdings has a 52 week low of $26.97 and a 52 week high of $48.61. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 20.88 and a beta of 0.41.

GDS (NASDAQ:GDS) last posted its earnings results on Friday, May 15th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $1.56. The firm had revenue of $426.12 million during the quarter, compared to analyst estimates of $436.44 million. GDS had a return on equity of 15.62% and a net margin of 23.83%.The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS. As a group, equities research analysts expect that GDS Holdings will post 5.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GDS. Weiss Ratings upgraded GDS from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. TD Cowen reduced their target price on shares of GDS from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Wall Street Zen raised shares of GDS from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research upgraded shares of GDS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Finally, Piper Sandler set a $36.00 price target on shares of GDS in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $48.33.

Insider Buying and Selling

In related news, VP Yixin Qian sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $35.25, for a total value of $352,500.00. Following the transaction, the vice president directly owned 66,865 shares in the company, valued at approximately $2,356,991.25. This trade represents a 13.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Judy Qing Ye sold 37,394 shares of GDS stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $36.21, for a total transaction of $1,354,036.74. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.99% of the company’s stock.

GDS Company Profile

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.