Singapore Technologies Telemedia Pte Ltd Sells 6,000,000 Shares of GDS Holdings $GDS

Singapore Technologies Telemedia Pte Ltd cut its stake in shares of GDS Holdings (NASDAQ:GDS) by 37.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,835,680 shares of the company’s stock after selling 6,000,000 shares during the period. GDS comprises about 100.0% of Singapore Technologies Telemedia Pte Ltd’s holdings, making the stock its biggest holding. Singapore Technologies Telemedia Pte Ltd owned 5.16% of GDS worth $380,641,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its stake in shares of GDS by 77.7% during the second quarter. Canada Pension Plan Investment Board now owns 7,004,083 shares of the company’s stock worth $214,115,000 after purchasing an additional 3,062,658 shares in the last quarter. Tekne Capital Management LLC increased its stake in GDS by 6.9% during the 2nd quarter. Tekne Capital Management LLC now owns 6,263,467 shares of the company’s stock worth $191,474,000 after buying an additional 403,256 shares in the last quarter. Aspex Management HK Ltd raised its holdings in shares of GDS by 46.4% during the second quarter. Aspex Management HK Ltd now owns 4,406,949 shares of the company’s stock valued at $134,720,000 after acquiring an additional 1,397,073 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of GDS by 2.8% during the second quarter. Bamco Inc. NY now owns 3,153,908 shares of the company’s stock valued at $96,415,000 after acquiring an additional 86,503 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of GDS by 64.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 719,265 shares of the company’s stock valued at $28,749,000 after acquiring an additional 280,806 shares in the last quarter. 33.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDS. Weiss Ratings reiterated a “hold (c)” rating on shares of GDS in a report on Monday, December 29th. TD Cowen dropped their price target on GDS from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Raymond James Financial reiterated a “strong-buy” rating on shares of GDS in a research report on Tuesday, January 13th. Macquarie Infrastructure set a $46.70 price objective on GDS in a research note on Thursday, November 6th. Finally, UBS Group set a $55.00 target price on GDS in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.91.

GDS Price Performance

GDS stock opened at $41.79 on Friday. The company’s 50 day simple moving average is $41.84 and its 200-day simple moving average is $37.35. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.51 and a quick ratio of 2.51. GDS Holdings has a 1 year low of $16.92 and a 1 year high of $48.61.

About GDS

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.