Eqis Capital Management Inc. reduced its stake in GDS Holdings Limited (NASDAQ:GDS) by 42.6% during the second quarter, HoldingsChannel.com reports. The fund owned 17,613 shares of the company’s stock after selling 13,054 shares during the quarter. Eqis Capital Management Inc.’s holdings in GDS were worth $1,382,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions 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. Parallel Advisors LLC increased its holdings 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 last quarter. Finally, Quadrant Capital Group LLC increased its holdings in GDS by 45.9% in the 1st quarter. Quadrant Capital Group LLC now owns 1,027 shares of the company’s stock valued at $83,000 after acquiring an additional 323 shares during the last quarter. Institutional investors own 56.27% of the company’s stock.
A number of analysts have issued reports on GDS shares. TheStreet downgraded shares of GDS from a “c-” rating to a “d+” rating in a report on Friday, August 20th. Raymond James dropped their price objective on shares of GDS from $110.00 to $75.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 18th. Royal Bank of Canada dropped their price objective on shares of GDS from $122.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, August 19th. Morgan Stanley cut shares of GDS from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $90.00 to $80.00 in a research note on Friday, July 23rd. Finally, Zacks Investment Research cut shares of GDS from a “hold” rating to a “sell” rating in a research note on Tuesday, July 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $97.00.
GDS (NASDAQ:GDS) last issued its quarterly earnings results on Monday, August 16th. The company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($1.60). GDS had a negative return on equity of 5.21% and a negative net margin of 16.28%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted ($0.77) earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, equities research analysts expect 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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