Pinnacle Associates Ltd. Sells 1,980 Shares of GDS Holdings $GDS

Pinnacle Associates Ltd. decreased its position in shares of GDS Holdings (NASDAQ:GDS) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,807 shares of the company’s stock after selling 1,980 shares during the quarter. Pinnacle Associates Ltd.’s holdings in GDS were worth $7,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GDS. Brooklyn Investment Group boosted its stake in GDS by 2,390.0% during the 1st quarter. Brooklyn Investment Group now owns 996 shares of the company’s stock worth $25,000 after acquiring an additional 956 shares during the last quarter. Advisors Asset Management Inc. bought a new position in GDS during the 1st quarter worth approximately $25,000. NewEdge Advisors LLC bought a new position in GDS during the 1st quarter worth approximately $25,000. Summit Securities Group LLC bought a new position in GDS during the 1st quarter worth approximately $26,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in GDS during the 1st quarter worth approximately $125,000. Institutional investors own 33.71% of the company’s stock.

GDS Stock Performance

Shares of GDS opened at $35.70 on Friday. 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 twelve month low of $16.92 and a twelve month high of $52.50. The firm’s 50 day moving average price is $36.33 and its two-hundred day moving average price is $31.93. The firm has a market cap of $6.80 billion, a P/E ratio of 10.56 and a beta of 0.36.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GDS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of GDS in a research note on Wednesday, October 8th. BMO Capital Markets raised shares of GDS to a “market perform” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. raised shares of GDS from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $34.00 to $46.00 in a research note on Wednesday, July 16th. JMP Securities lifted their price target on shares of GDS from $40.00 to $50.00 and gave the company a “market outperform” rating in a research note on Thursday, August 21st. Finally, Zacks Research lowered shares of GDS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, GDS has a consensus rating of “Moderate Buy” and a consensus target price of $46.93.

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.