297,543 Shares in GDS Holdings $GDS Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in shares of GDS Holdings (NASDAQ:GDS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 297,543 shares of the company’s stock, valued at approximately $11,988,000. The Manufacturers Life Insurance Company owned approximately 0.15% of GDS as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of GDS. Quantinno Capital Management LP boosted its position in shares of GDS by 168.2% in the first quarter. Quantinno Capital Management LP now owns 38,566 shares of the company’s stock worth $1,554,000 after buying an additional 24,187 shares during the period. Ardmore Road Asset Management LP purchased a new position in shares of GDS during the first quarter valued at $16,116,000. Compound Planning Inc. acquired a new position in GDS during the first quarter valued at $263,000. State of Wyoming lifted its stake in GDS by 30.9% in the 1st quarter. State of Wyoming now owns 26,959 shares of the company’s stock worth $1,086,000 after acquiring an additional 6,369 shares in the last quarter. Finally, NewEdge Wealth LLC acquired a new stake in GDS during the 1st quarter worth about $1,154,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GDS has been the topic of a number of research reports. Piper Sandler set a $36.00 target price on GDS in a report on Thursday, May 21st. Weiss Ratings upgraded shares of GDS from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Zacks Research lowered shares of GDS from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. TD Cowen lowered their price target 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. Finally, Wall Street Zen raised shares of GDS from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.33.

Insider Buying and Selling at GDS

In other GDS news, VP Yixin Qian sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $35.25, for a total value of $352,500.00. Following the sale, the vice president directly owned 66,865 shares in the company, valued at $2,356,991.25. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judy Qing Ye sold 37,394 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $36.21, for a total value of $1,354,036.74. The SEC filing for this sale provides additional information. Insiders own 7.99% of the company’s stock.

GDS Price Performance

NASDAQ GDS opened at $32.74 on Monday. GDS Holdings has a twelve month low of $26.97 and a twelve month high of $48.61. The stock has a market capitalization of $6.56 billion, a PE ratio of 20.85 and a beta of 0.43. The stock has a 50-day simple moving average of $32.57 and a 200 day simple moving average of $39.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.87 and a current ratio of 1.87.

GDS (NASDAQ:GDS) last announced its quarterly earnings data 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. GDS had a net margin of 23.83% and a return on equity of 15.62%. The business had revenue of $426.12 million for the quarter, compared to the consensus estimate of $436.44 million. During the same quarter last year, the company posted $3.47 earnings per share. GDS’s quarterly revenue was up 23.7% on a year-over-year basis. Research analysts anticipate that GDS Holdings will post 5.65 EPS 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.