NewEdge Wealth LLC Invests $1.15 Million in GDS Holdings $GDS

NewEdge Wealth LLC purchased a new stake in GDS Holdings (NASDAQ:GDS) in the first quarter, Holdings Channel reports. The firm purchased 28,637 shares of the company’s stock, valued at approximately $1,154,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in GDS by 3.5% during the fourth quarter. Parallel Advisors LLC now owns 6,901 shares of the company’s stock worth $241,000 after buying an additional 236 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in GDS by 8.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,904 shares of the company’s stock worth $157,000 after buying an additional 303 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in GDS by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,809 shares of the company’s stock valued at $407,000 after buying an additional 421 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in GDS by 3.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,955 shares of the company’s stock valued at $557,000 after buying an additional 468 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of GDS by 41.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,806 shares of the company’s stock worth $55,000 after acquiring an additional 531 shares during the last quarter. Institutional investors and hedge funds own 33.71% of the company’s stock.

Insider Transactions at GDS

In other GDS news, VP Yixin Qian sold 10,000 shares of GDS stock in a transaction dated Wednesday, June 10th. The shares were 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 directly owned 66,865 shares in the company, valued at $2,356,991.25. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judy Qing Ye sold 37,394 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $36.21, for a total transaction of $1,354,036.74. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler set a $36.00 price target on GDS in a report on Thursday, May 21st. Weiss Ratings raised shares of GDS from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of GDS from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research raised shares of GDS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Finally, TD Cowen decreased their target price on shares of GDS from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $48.33.

GDS Stock Performance

Shares of GDS stock opened at $31.63 on Monday. GDS Holdings has a 52 week low of $26.97 and a 52 week high of $48.61. The business’s fifty day simple moving average is $33.23 and its 200-day simple moving average is $39.55. The firm has a market cap of $6.34 billion, a PE ratio of 20.15 and a beta of 0.41. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.25.

GDS (NASDAQ:GDS) last released its quarterly earnings results on Friday, May 15th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $1.56. The business had revenue of $426.12 million during the quarter, compared to analysts’ expectations of $436.44 million. GDS had a return on equity of 15.62% and a net margin of 23.83%.The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.47 EPS. Equities analysts forecast that GDS Holdings will post 5.65 earnings per share for the current year.

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.