Barometer Capital Management Inc. Sells 87,100 Shares of GDS Holdings $GDS

Barometer Capital Management Inc. decreased its stake in shares of GDS Holdings (NASDAQ:GDS) by 93.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,500 shares of the company’s stock after selling 87,100 shares during the quarter. Barometer Capital Management Inc.’s holdings in GDS were worth $227,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GDS. Royal Bank of Canada lifted its position in GDS by 30.7% during the first quarter. Royal Bank of Canada now owns 379,289 shares of the company’s stock valued at $9,608,000 after purchasing an additional 89,059 shares during the last quarter. Advisors Asset Management Inc. bought a new position in GDS during the first quarter valued at $25,000. NewEdge Advisors LLC bought a new position in GDS during the first quarter valued at $25,000. Northwestern Mutual Wealth Management Co. lifted its position in GDS by 113.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,836 shares of the company’s stock valued at $56,000 after purchasing an additional 974 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in GDS by 41.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,806 shares of the company’s stock valued at $55,000 after purchasing an additional 531 shares during the last quarter. Institutional investors own 33.71% of the company’s stock.

Insider Activity

In other news, Director Judy Qing Ye sold 37,394 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $36.21, for a total value of $1,354,036.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yixin Qian sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $35.25, for a total transaction of $352,500.00. Following the completion of the sale, the vice president owned 66,865 shares of the company’s stock, valued at $2,356,991.25. This trade represents a 13.01% decrease in their position. The SEC filing for this sale provides additional information. 7.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GDS shares. Wall Street Zen upgraded shares of GDS from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Morgan Stanley reiterated an “overweight” rating and set a $64.00 price objective on shares of GDS in a research report on Tuesday, March 17th. Zacks Research lowered shares of GDS from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Piper Sandler set a $36.00 price objective on shares of GDS in a research report on Thursday, May 21st. Finally, TD Cowen lowered their price objective on shares of GDS from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.04.

GDS Price Performance

GDS stock opened at $33.76 on Friday. The firm has a 50-day moving average price of $40.12 and a 200-day moving average price of $40.28. The firm has a market capitalization of $6.76 billion, a PE ratio of 21.50 and a beta of 0.39. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.25. GDS Holdings has a 12-month low of $25.47 and a 12-month high of $48.61.

GDS (NASDAQ:GDS) last released its earnings results on Friday, May 15th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $1.56. The firm had revenue of $426.13 million during the quarter, compared to analyst estimates of $436.44 million. GDS had a net margin of 23.83% and a return on equity of 15.62%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business earned $3.47 EPS. As a group, equities research analysts forecast that GDS Holdings will post 5.65 EPS for the current year.

GDS Profile

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.