Point72 Hong Kong Ltd Trims Stake in GDS Holdings Limited (NASDAQ:GDS)

Point72 Hong Kong Ltd cut its position in shares of GDS Holdings Limited (NASDAQ:GDS) by 20.3% in the third quarter, Holdings Channel.com reports. The firm owned 100,191 shares of the company’s stock after selling 25,566 shares during the quarter. Point72 Hong Kong Ltd’s holdings in GDS were worth $2,044,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GDS. Baupost Group LLC MA increased its stake in GDS by 63.5% in the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in GDS during the 3rd quarter valued at about $27,212,000. Farallon Capital Management LLC boosted its position in GDS by 72.7% in the 2nd quarter. Farallon Capital Management LLC now owns 1,226,133 shares of the company’s stock valued at $11,391,000 after buying an additional 516,133 shares during the period. Swedbank AB purchased a new position in shares of GDS during the first quarter worth approximately $2,174,000. Finally, Waterfront Capital Partners LLC bought a new stake in shares of GDS during the third quarter valued at approximately $4,755,000. 33.71% of the stock is currently owned by institutional investors.

GDS Trading Up 0.8 %

Shares of NASDAQ GDS opened at $19.69 on Monday. The business has a fifty day moving average price of $21.21 and a 200 day moving average price of $15.13. GDS Holdings Limited has a 1-year low of $5.01 and a 1-year high of $24.74. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $3.75 billion, a P/E ratio of -6.46 and a beta of 0.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GDS shares. Bank of America upped their target price on GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada increased their price objective on shares of GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.47.

About GDS

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.