Irenic Capital Management LP Acquires New Shares in GDS Holdings $GDS

Irenic Capital Management LP acquired a new position in shares of GDS Holdings (NASDAQ:GDS) during the second quarter, Holdings Channel.com reports. The fund acquired 283,000 shares of the company’s stock, valued at approximately $8,498,000. GDS accounts for approximately 0.4% of Irenic Capital Management LP’s holdings, making the stock its 29th largest holding.

Other large investors have also added to or reduced their stakes in the company. Triata Capital Ltd lifted its holdings in shares of GDS by 23.5% in the fourth quarter. Triata Capital Ltd now owns 2,974,298 shares of the company’s stock worth $103,803,000 after buying an additional 566,345 shares in the last quarter. Electron Capital Partners LLC grew its stake in GDS by 52.2% during the fourth quarter. Electron Capital Partners LLC now owns 105,448 shares of the company’s stock valued at $3,680,000 after acquiring an additional 36,166 shares in the last quarter. Barometer Capital Management Inc. grew its stake in GDS by 2,338.5% during the first quarter. Barometer Capital Management Inc. now owns 158,500 shares of the company’s stock valued at $6,386,000 after acquiring an additional 152,000 shares in the last quarter. Bank of America Corp DE increased its holdings in GDS by 25.5% during the 1st quarter. Bank of America Corp DE now owns 2,177,301 shares of the company’s stock worth $87,723,000 after acquiring an additional 442,414 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in GDS during the 1st quarter worth approximately $11,988,000. Institutional investors own 33.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GDS shares. Raymond James Financial reissued a “strong-buy” rating and issued a $51.00 price target on shares of GDS in a report on Tuesday. Piper Sandler set a $36.00 price objective on GDS in a research note on Thursday, May 21st. Wall Street Zen raised GDS from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Research lowered GDS from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Finally, TD Cowen dropped their price target on GDS from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, GDS presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.12.

Insider Transactions at GDS

In other news, VP Yixin Qian sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $35.25, for a total value of $352,500.00. Following the completion of the transaction, the vice president directly owned 66,865 shares in the company, valued at approximately $2,356,991.25. This represents a 13.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.99% of the stock is currently owned by company insiders.

GDS Stock Performance

GDS stock opened at $31.36 on Friday. The firm’s fifty day moving average price is $32.16 and its 200-day moving average price is $37.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market cap of $6.28 billion, a P/E ratio of 14.59 and a beta of 0.43. GDS Holdings has a fifty-two week low of $26.97 and a fifty-two week high of $48.61.

GDS (NASDAQ:GDS) last announced its earnings results on Tuesday, June 30th. The company reported $0.52 earnings per share (EPS) for the quarter. The company had revenue of $454.51 million during the quarter. GDS had a net margin of 30.70% and a return on equity of 17.94%. On average, equities research analysts expect that GDS Holdings will post 2.23 earnings per share for the current fiscal 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.