abrdn plc increased its stake in GDS Holdings Limited (NASDAQ:GDS) by 5.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,185,228 shares of the company’s stock after purchasing an additional 113,680 shares during the quarter. abrdn plc’s holdings in GDS were worth $171,574,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GDS. New York State Common Retirement Fund bought a new stake in GDS in the 2nd quarter valued at $45,000. Eaton Vance Management bought a new stake in GDS in the 1st quarter valued at $51,000. Daiwa Securities Group Inc. bought a new stake in GDS in the 2nd quarter valued at $71,000. IFP Advisors Inc bought a new stake in GDS in the 1st quarter valued at $79,000. Finally, Parallel Advisors LLC raised its stake in GDS by 69.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,037 shares of the company’s stock valued at $81,000 after acquiring an additional 425 shares during the period. 56.27% of the stock is owned by institutional investors.
GDS has been the topic of a number of research analyst reports. Zacks Investment Research cut GDS from a “hold” rating to a “sell” rating in a research note on Tuesday, July 27th. Macquarie lowered their price objective on GDS from $122.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 21st. Raymond James lowered their price objective on GDS from $110.00 to $75.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 18th. TheStreet cut GDS from a “c-” rating to a “d+” rating in a research report on Friday, August 20th. Finally, Morgan Stanley cut GDS from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $90.00 to $80.00 in a research report on Friday, July 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GDS has an average rating of “Buy” and a consensus price target of $97.00.
GDS (NASDAQ:GDS) last released its earnings results on Monday, August 16th. The company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.60). The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.87 billion. GDS had a negative return on equity of 5.21% and a negative net margin of 16.28%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the company posted ($0.77) earnings per share. Analysts anticipate that GDS Holdings Limited will post -0.72 EPS for the current year.
GDS Holdings Ltd. engages in developing and operating data centers in China. It builds, operates, and transfers data centers at other locations. Its data centers are carrier and cloud-neutral, which enable customers to connect to major telecommunications carriers, and to access a number of cloud service providers.
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