Fred Alger Management LLC Has $11.71 Million Stock Holdings in GDS Holdings $GDS

Fred Alger Management LLC boosted its stake in shares of GDS Holdings (NASDAQ:GDS) by 79.6% in the third quarter, HoldingsChannel reports. The firm owned 302,453 shares of the company’s stock after purchasing an additional 134,017 shares during the quarter. Fred Alger Management LLC’s holdings in GDS were worth $11,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlueCrest Capital Management Ltd acquired a new stake in shares of GDS during the 3rd quarter worth about $299,000. Bamco Inc. NY grew its stake in GDS by 35.0% in the 3rd quarter. Bamco Inc. NY now owns 4,258,664 shares of the company’s stock valued at $164,810,000 after buying an additional 1,104,756 shares during the last quarter. Bank of America Corp DE grew its stake in GDS by 129.7% in the 3rd quarter. Bank of America Corp DE now owns 529,536 shares of the company’s stock valued at $20,493,000 after buying an additional 298,963 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in GDS by 145.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 88,519 shares of the company’s stock valued at $3,426,000 after acquiring an additional 52,416 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in GDS by 26.4% in the 3rd quarter. Raymond James Financial Inc. now owns 124,706 shares of the company’s stock valued at $4,826,000 after acquiring an additional 26,066 shares during the period. 33.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GDS has been the subject of a number of research analyst reports. TD Cowen reduced their price objective on GDS from $38.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Raymond James Financial reissued a “strong-buy” rating on shares of GDS in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of GDS in a research note on Monday, December 29th. Finally, UBS Group set a $55.00 price objective on GDS in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.91.

GDS Price Performance

Shares of GDS stock opened at $43.16 on Tuesday. The business has a fifty day simple moving average of $43.19 and a 200 day simple moving average of $38.05. The company has a market cap of $8.39 billion, a P/E ratio of 10.82 and a beta of 0.39. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 1.65. GDS Holdings has a twelve month low of $16.92 and a twelve month high of $48.61.

GDS Company 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.